Cipla shareholders approve proposal to raise up to Rs 3,000 crore

An employee works at the reception area of Cipla at its headquarters in Mumbai. Photo: Reuters

Drug major Cipla on Saturday said its shareholders have approved a proposal to raise up to Rs 3,000 crore through issuance of equity shares or other securities convertible into equity shares.

In a regulatory filing, Cipla said 99.68 per cent shareholders polled in favour of the resolution to raise funds.

In May this year, Cipla's board had approved raising funds up to Rs 3,000 crore by issue of equity shares/other securities convertible into equity shares.