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Saturday, September 26, 2009
Cipla raises Rs 676cr via QIP to fund capex
Pharmaceutical major Cipla has raised Rs 676 crore via a qualified institutional placement (QIP) issue. Commenting on this development, Managing Director Amar Lulla said the QIP proceeds would be primarily used for capital expenditure. He clarified that the company had no plans for further fund raising in the near term. The company’s total debt was at Rs 500 crore, he said.
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