Torrent Pharmaceuticals is seeking shareholders’ approval to increase its borrowing limits to Rs 5,000 crore. In this regard, the company has issued a postal ballot notice to its shareholders to approve a special resolution to increase the borrowing limit from the current Rs 3,000 crore.
The company is mulling to increase the borrowing limits for its future growth plans, both organic and inorganic, including the proposed acquisition of identified Indian branded formulation business of Elder Pharmaceuticals.
Earlier in the month, Torrent Pharmaceuticals had agreed to acquire the branded formulation business of Elder Pharmaceuticals in India and Nepal for Rs 2,000 crore to boost its presence in segments such as women’s healthcare and pain management.
Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
The company is mulling to increase the borrowing limits for its future growth plans, both organic and inorganic, including the proposed acquisition of identified Indian branded formulation business of Elder Pharmaceuticals.
Earlier in the month, Torrent Pharmaceuticals had agreed to acquire the branded formulation business of Elder Pharmaceuticals in India and Nepal for Rs 2,000 crore to boost its presence in segments such as women’s healthcare and pain management.
Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
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