Jubilant Life Sciences to raise Rs 2,000 crore through non-convertible debentures

NEW DELHI: Drug firm Jubilant Life Sciences today said its shareholders have approved raising Rs 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 authorised 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 Rs 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 Rs 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 today closed at Rs 175.90 per scrip on the BSE, up 1.09 per cent from previous close.