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As Market Crashes, India’s Wockhardt Is Pushed To Consider Equity Dilution To Raise Funds To Repay Debts

This article was originally published in PharmAsia News

Executive Summary

MUMBAI - A headlong fall in market valuation of large Indian drug makers over the last year is pushing their promoters to consider equity stake dilutions to repay debts or honor similar commitments. India's sixth-largest drug maker Wockhardt may see its promoter Habil Khorakiwala dilute 10 to 15 percent of his and his family's 74 percent equity in favor of private-equity players to raise about $150 million, PharmaAsia News has learned

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