“The objective of the Issue is to, inter alia, meet the company’s financing needs for repayment of subordinated debt due, financing research and development initiatives, general corporate purposes and/or such other use of proceeds as may be permitted under the applicable laws,” it added.
Wockhardt Pharmaceuticals announced a combined net profit of Rs 1.77 crore for the third quarter ended December 31, 2021 on Thursday. In the same time of the previous fiscal year, the company made a net profit of Rs 32.4 crore. Wockhardt stated in a regulatory filing that income from continuing operations increased to Rs 853.89 crore in the third quarter, up from Rs 764.02 crore in the previous fiscal’s October-December period. The company stated that it intends to raise up to Rs 1,000 crore through a rights offering.
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