Jubilant Pharmova approves ₹800 crore NCD issue

Jubilant Pharmova approves ₹800 crore NCD issue SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Jubilant Pharmova Ltd on Monday said its Board of Directors has approved the issuance of non-convertible debentures (NCDs) aggregating up to Rs 800 crore on a private placement basis. According to a regulatory filing, the board approved the issue of up to 80,000 fully paid-up, rupee-denominated, secured or unsecured, rated, listed, redeemable, and transferable NCDs of face value Rs 1,00,000 each in one or more tranches, subject to applicable laws and regulatory approvals. The debentures are proposed to be listed on the BSE and carry a tenure of up to five years from the deemed date of allotment. The coupon or interest rate will be determined during the bidding process. Additionally, the board approved seeking shareholders' authorisation via a special resolution through postal ballot to issue non-convertible debt securities on a private placement basis. This authorisation covers an aggregate amount not exceeding Rs 2,500 crore outstanding at any point in time during a period of one year from the date of passing the resolution. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24