Sun Pharma raises Rs 1,000 cr via NCDs
New Delhi: Drug major Sun Pharma Industries said it has raised Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.
"Sun Pharma Laboratories Ltd, a wholly-owned subsidiary of the company, has raised, on private placement basis, Rs 1,000 crore by allotment of 10,000 unsecured redeemable non-convertible debentures of a face value of Rs 10,00,000 each," Sun Pharmaceutical Industries said in a BSE filing.
It further said: "NCDs will be listed on BSE Ltd under two series with Series 1 debentures comprising 5,000 debentures amounting to Rs 500 crore with a tenor of 24 months, and Series 2 debentures comprising 5,000 debentures amounting to Rs 500 crore with a tenor of 39 months."
The company did not elaborate on the usage of proceeds.