Edelweiss Financial board clears Rs 1,500 crore fund raising via NCD

Edelweiss Financial Services on Thursday said the board of the company has approved raising up to Rs 1,500 crore through Non-convertible Debentures (NCDs) to fund business growth.

Besides, the board has also declared an interim dividend of Re 0.25 per share on the equity share of the face value of Re 1 each for the financial year ending March 31, 2023.

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The board in its meeting on Thursday cleared the proposal of raising of funds by way of public issue of non-convertible debentures for an amount not exceeding Rs 1,500 crore, in one or more tranches, the company said in a regulatory filing.

In October 2022, the drugmaker announced that the US health regulator has issued Form-483 with five observations following a pre-approval inspection of its Unit-2 injectable manufacturing facility at Nagpur.

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