The approval was granted by the company’s Securities Transfer and Stakeholders Relationship Committee (STSRC) at its meeting held on January 5, 2026. The proposed fund raise may be carried out in one or more tranches, the company informed through a regulatory filing.
According to the filing, Torrent Pharmaceuticals plans to issue up to 12,50,000 non-convertible debentures, each with a face value of Rs 1,00,000, taking the total issue size to Rs 12,500 crore. The debentures will be secured, rated, listed, and redeemable, and will be issued through private placement.
The NCDs are proposed to be listed on the Wholesale Debt Market segment of the National Stock Exchange of India Limited. The tenure of the instruments, including the date of allotment and final maturity, will be decided and disclosed at the time of allotment. Similarly, the coupon or interest rate applicable to the debentures will be determined at the time of issuance, with the payment of interest and principal scheduled on an annual basis.
In terms of security, the debentures will be backed by a first-ranking exclusive charge over the designated account in which the proceeds of the issue will be deposited, along with a charge over specified trademarks of the company, ensuring a minimum security cover of 1.1 times
The company stated that the rights, interests, and privileges of the NCD holders will be governed by the final debenture trust deed to be executed with the debenture trustee, along with other related documents. The filing also clarified that there has been no delay or default in payment of interest or principal, and there are no adverse remarks concerning the securities or the assets charged.
Torrent Pharmaceuticals further confirmed that there has been no cancellation or termination of the proposal for issuance of the debentures.
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