Mumbai, March 13: Kopran Ltd, a mid-sized pharmaceutical company, will raise Rs 57.77 crore by issuing equities and warrants on a preferential basis to Clearwater Capital Partners (Cyprus) Ltd to fund its capital expenditure and other growth plans.

Last week, the board approved an issue of 47.20 lakh equity shares and 58.42 lakh warrants at a price of Rs 54.70 per share, Kopran told the BSE today.

“The proceeds will be used for future operations of the company, including capital expenditure, working capital, debt restructuring and other growth plans,” the company said in its communication to the stock exchange.

Kopran had also approved a proposal to restructure or amalgamate Kopran Research Laboratories Ltd, a 100 per cent subsidiary, with itself.