Jubilant Pharmova eyes $150 million through rupee debt sale, bankers say
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Jubilant Pharmova plans to raise $150 million through a rupee bond sale, two merchant bankers said on Friday.
- ✓The company wants to use these funds for capital expenditure and to refinance project-related liabilities.
- ✓They could tap the debt market before the end of next month to support their growing business.
Story at a Glance
- Category
- MARKET
- Reported By
- Business Line
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
Jubilant Pharmova is set to raise funds through a rupee bond offering, primarily to invest in capital expenditure, two merchant bankers said on Friday.
The company is engaged in specialty pharmaceuticals, contract development and manufacturing, generics, drug discovery and proprietary novel drug businesses. It plans to raise around ₹1,400 crore (around $150 million) through the sale of three-year bonds with bullet maturity, the bankers added.
They requested anonymity as they are not authorised to speak to media, while the company did not reply to a Reuters email seeking comment.
The notes are rated AA+ by India Ratings, and the company could tap the debt market before the end of next month.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
Business Line
Read the full, original unfiltered story directly on the publisher's portal.