Lupin, one of the leading pharmaceutical companies in India, announced Tuesday the board of directors approved in principle to raise funds up to Rs 75 billion. The company will consider issue of securities i.e., equity shares, GDRs, ADRs, convertible bonds, equity linked instruments, etc. as may be appropriate.

The company has sought approval of the shareholders to raise funds at the Annual General Meeting (AGM) scheduled for Jul. 23, 2015.

Shares of the company declined Rs 20.05, or 1.11%, to trade at Rs 1,791.05. The total volume of shares traded was 19,409 at the BSE (10.44 a.m., Tuesday).