Jubilant Pharmova Approves ₹800 Cr NCD Issue

Jubilant Pharmova Limited's Board of Directors has approved the issuance of up to 80,000 secured/unsecured, listed, rated, redeemable Non-Convertible Debentures (NCDs) with a face value of ₹1,00,000 each, aggregating up to ₹800 crore. The issuance will be on a private placement basis, in one or more tranches, and is subject to applicable laws and regulatory approvals. The company will also seek members' authorization via a Special Resolution through Postal Ballot for issuing non-convertible debt securities up to ₹2,500 crore outstanding at any time within one year. The NCDs are proposed to be listed on the Bombay Stock Exchange (BSE) with a tenure of up to five years. The coupon/interest will be discovered during the bidding process, with payment frequency annually, monthly, or upon early redemption.