Drugmaker Piramal Healthcare Ltd said on Thursday its board approved raising up to Rs10 billion by issuing equity or equity-related instruments.
The funds will primarily be used to retire debt, the drugmaker's chief financial officer Rajesh Laddha told Reuters over telephone.
The company had about Rs14 billion-Rs15 billion in debt as of end September, he said adding the time line would be decided by a sub-committee.
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