Suven Life Sciences to raise $50 mn via securities

Suven Life Sciences to raise $50 mn via securities
PTI
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First Published: Wed, Sep 23 2009. 11 33 AM IST
Updated: Wed, Sep 23 2009. 11 33 AM IST
Mumbai: Pharmaceutical firm Suven Life Sciences on Wednesday said it will raise $50 million (nearly Rs239.5 crore) through the issue of securities.
The shareholders of the company have approved to raise $50 million by issuing American depository receipts, global depository receipts and foreign currency convertible bonds or by convertible securities or other debt instruments, Suven Life Sciences said in a filing to the Bombay Stock Exchange.
The shareholders have also approved the appointment of D. G. Prasad and Martin Tolar as directors on the board of the company, the filing added.
Shares of Suven Life Sciences were trading at Rs32 on the BSE, up 2.89% from previous close.
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First Published: Wed, Sep 23 2009. 11 33 AM IST