Astec LifeSciences Limited has approved the proposal to raise funds through issuance of Non-Convertible Debentures ("NCD") for expansion and development of business operations of the Company and meeting the short term and long-term financial requirements of the Company, including but not limited to, expenditure proposed to be incurred for improving the facilities being provided in its set-up and /or meeting the working capital requirements, for an amount upto INR 50 Crore (Rupees Fifty Crore Only).