Alembic Pharma raises Rs 350 crore via NCDs

New Delhi: Drug firm Alembic Pharmaceuticals Friday said it has raised Rs 350 crore through allotment of non-convertible debentures (NCDs) on private placement basis. "The NCD committee of Alembic Pharmaceuticals Ltd. has allotted 1,500, 9 per cent rated unsecured listed redeemable non-convertible debentures (NCDs)aggregating to Rs 150 crore under tranche I," Alembic Pharmaceuticals said in a regulatory filing.

The company said it has also allotted 2,000, 9 per cent rated unsecured listed redeemable NCDs aggregating to Rs 200 crore.

Shares of Alembic Pharmaceuticals were trading 0.42 per cent lower at Rs 615 apiece on BSE.