Home BusinessSuven Life Sciences to raise $50 mn via securities
Pharmaceutical firm Suven Life Sciences today said it will raise $50 million (nearly Rs 239.5 crore) through the issue of securities.
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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(BSE).
The shareholders have also approved the appointment of DG Prasad and Martin Tolar as Director on the board of the company, the filing added. Shares of Suven Life Sciences were trading at Rs 32 on the BSE, up 2.89 per cent from previous close.