The Board of Directors of Lupin Ltd decided to raise funds equivalent upto US$ 100 million through securities like debentures/bonds/ECBs for support the growth plans, acquisitions and capital expenditure. The company is getting necessary approvals from shareholders through special resolution.
The company has re-appointed Dr Desh Bandhu Gupta as Chairman and Mrs M D Gupta as Executive director for a period of five years with effect from January 1, 2006.
The Board has also decided to introduce two Stock Options Plans. The first one is for the employees of Lupin and the second is for the employees of its subsidiaries. The company is going to issue 3,21,129 equity shares of the face value of Rs 10 each under a plan titled 'Lupin Employees Stock Option Plan 2005'. It is also planning to issue 80,282 equity shares to employees to its subsidiaries under 'Lupin Subsidiary Companies Employees Stock Option Plan 2005'.