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To: Mohan Marette who wrote (6668)	9/10/1999 11:48:00 AM
From: Mohan Marette	Read Replies (1) of 12475

Aurobindo Pharma completes private placement aurobindo.com Date: 9/10/99 8:05:47 PM (Probity) Hyderabad based Aurobindo Pharma Ltd (APL) completed a private placement of 551,000 equity shares at Rs 490 per share to domestic and overseas institutional investors. The company raised Rs 270mn in the process. APL manufactures and markets bulk drugs, drug intermediates and formulations. In a statement issued today the company said, "The proceeds of the private placement will be used to part finance APL's research & development thrust and the growth of its formulations business." The private placement will lead to an increase in the company's equity capital to Rs 100 mil. Aurobindo Pharma closed at Rs 546.10, down Rs0.40 on BSE today.

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