Aurobindo Pharma (APL) plans to raise $60 million (Rs264
crore) from the global markets.
the company received four US Food and Drug Administration
approvals for its generic anti-retroviral drugs (ARVs),
which are expected to open up huge global business opportunities.
funds from the proposed issue would be utilised for new
projects, the modernisation and expansion of existing
plants, overseas direct investment in joint ventures or
wholly-owned subsidiaries, acquisitions and other purposes,
including repaying of existing loans.
company proposes to list the foreign currency convertible
bonds (FCCBs) on one or more foreign stock exchanges and
them into equity shares at a conversion price to be decided
between the company and overseas investors.