Sun Pharma Allots ₹7,816 Cr Non-Convertible Debentures

Sun Pharmaceutical Industries Limited has successfully completed the allotment of Non-Convertible Debentures (NCDs) worth ₹7,816 crore on a private placement basis. This issuance comprises Series A NCDs valued at ₹2,003 crore and Series B NCDs at ₹5,813 crore. The company exercised a greenshoe option of ₹816 crore, exceeding the base issue size of ₹7,000 crore. The NCDs are rated, listed, unsecured, redeemable, and carry coupon rates of 8.05% p.a. for Series A and 8.20% p.a. for Series B. The maturity date for both series is scheduled for October 27, 2031, with Series A having a put option on March 27, 2028. This move aims to strengthen the company's financial structure and fund its growth initiatives.