Suven Life Sciences, a biopharmaceutical company, announced that the board of directors has approved fund raising plan. The board cleared proposal to raise up to USD 100 million or its equivalent of any other foreign/ Indian currencies. The company consider issue of securities to QIPs, FCCBs and other modes in accordance with SEBI guidelines and subject to necessary approvals from statutory authorities as may be required.

The board also approved amendment of articles of association in line with Companies Act, 2013. The board has convened an extra ordinary general meeting of the members of the company to be held on Oct. 21, 2014 for obtaining approval of members.

Shares of the company gained Rs 4.75, or 2.36%, to trade at Rs 205.60. The total volume of shares traded was 335,859 at the BSE (3.08 p.m., Monday).