The media had reports that Bal Pharma Limited may raise $ 20 million for capacity expansion and asset acquisition.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Bal Pharma Limited has vide its letter inter-alia stated, "The Company has been allocated 10 acres of land at SEZ , Hassan, Karnataka. The Company is planning to raise 20 million USD for capacity expansion and for acquisition of assets either through Term Loan or ECCB/ECB route. The first phase of expansion will be bulk drug actives with an investment of about 35 crores at Hassan, Karnataka and the balance of the funding will be allocated for expansion of capacities at its existing plants and also scanning the markets for acquisition of assets." -- www.nseindia.com
Comment and add to the story without registration, but keep the comments meaningful please. Links are not accepted.
