Jubilant Pharmova Ltd on Monday announced that its Board of Directors has approved the issuance of non-convertible debentures (NCDs) worth up to Rs 800 crore through private placement.
The proposed issue comprises up to 80,000 debentures with a face value of Rs 1 lakh each, to be issued in one or more tranches. The NCDs may be secured or unsecured and will be rated, listed, redeemable and transferable, subject to applicable laws and regulatory approvals.
The debentures are proposed to be listed on the BSE, with a tenure of up to five years from the deemed date of allotment. The coupon or interest rate will be determined through the bidding process.