Alembic Pharma plans to get upto Rs 500 crore through NCDs

New Delhi: Drug firm Alembic Pharma on Thursday said it plans to raise up to Rs 500 crore through issue of non-convertible debentures (NCDs) on private placement basis.

The company's board of directors on Thursday approved the issue of unsecured listed redeemable NCDs of up to Rs 500 crore on private placement basis under a shelf disclosure document in multiple tranches, Alembic Pharmaceuticals said in a filing to the BSE.

The board also constituted NCD Committee for issue and allotment of NCDs, it added.

The company, however, did not disclose what it intends to do with the raised money.