Remedium Lifecare has informed exchanges that its board will meet on July 8 to evaluate and approve the proposal to raise funds of up to Rs 200 crore. The company said that it will consider raising the funds by way of issuance of equity shares, convertible securities, or other eligible instruments to Qualified Institutional Buyers (QIBs).

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"To evaluate and approve the proposal to raise funds up to Rs. 200,00,00,000/- (Rupees Two Hundred Crores Only) by way of issuance of equity shares, convertible securities, or other eligible instruments to Qualified Institutional Buyers (QIBs) to finance the acquisition of Good Manufacturing Practices (GMP) assets in the Active Pharmaceutical Ingredients (API) and Intermediates space, as well as the acquisition of technology, Intellectual Property (IP), including US Drug Master File (USDMF), Certificate of Suitability to the Monographs of the European Pharmacopoeia (CEP), tech packages, and other relevant assets," the company said.

Earlier, the company said that its board has approved 3:1 bonus shares for the investors of the company. 

This means, that investors having one equity share of Remedium Life Care Limited will get three equity shares as a bonus. 

With this, the authorized share capital of the company has increased from Rs 30 crore to Rs 42 crore.