Express Pharma

Sun Pharma raises Rs 1,000 crore via NCDs

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NCDs will be listed on BSE under two series

Sun Pharmaceutical Industries has raised Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

“Sun Pharma Laboratories, 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.

It further said: “NCDs will be listed on BSE 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.

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