BackJubilant Life Sciences to raise Rs2,000 crore through NCDs
Funds to be raised on private placement basis or rights basis in one or more tranches
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New Delhi: Drug firm Jubilant Life Sciences on Tuesday said its shareholders have approved raising ₹ 2,000 crore through redeemable non-convertible debentures (NCDs) on a private placement basis or rights basis in one or more tranches.
In a BSE filing, the company said its shareholders have authorized the board “to offer or invite subscriptions for secured I unsecured redeemable non-convertible debentures, in one or more series or tranches, aggregating up to ₹ 2,000 crore on private placement basis or rights basis."
The company added that the borrowing through debentures will be within the above overall borrowing limit of ₹ 5,000 crore.
Jubilant Life Sciences is engaged in manufacture and supply of active pharmaceutical ingredient (APIs), solid dosage formulations, radio pharmaceuticals, allergy therapy products and life science ingredients.
It also provides services in contract manufacturing of sterile injectables and ointments, creams and liquids and drug discovery and development. Shares of Jubilant Life Sciences closed at ₹ 175.90 per scrip on the BSE, up 1.09% from previous close.
(The promoters of HT Media Ltd, which publishes Hindustan Times and Mint, and Jubilant Life Sciences are closely related. There are no promoter crossholdings.)
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