Gujarat Themis Biosyn Allots ₹585 Cr NCDs for Japan Subsidiary Acquisition

Gujarat Themis Biosyn Limited has announced the allotment of Non-Convertible Debentures (NCDs) aggregating ₹585 Crores on a private placement basis. The funds raised will be utilized for investing in its wholly-owned subsidiary in Japan to finance the acquisition of MicroBiopharm Japan Co., Ltd, and for general corporate purposes. The NCDs are secured, redeemable, unlisted, and rated. Two series of NCDs were allotted: Series 1 (₹2,950 million) with a tenure of 60 months and a 10% p.a. interest rate, and Series 2 (₹2,900 million) with a tenure of 18 months and a 17.75% p.a. interest rate. The issuance is secured by company assets and a personal guarantee from the promoter.