Sun Pharma Raises Rs 1,000 Cr Through NCDs

24 December, New Delhi

Drug major Sun Pharmaceutical today said it has raised Rs 1,000 crore by allotting 10,000 unsecured redeemable non-convertible debentures (NCDs) on private placement basis.

The NCDs are of a face value of Rs 10,00,000 each to be listed on BSE under two series with Series I debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 24 months, and series II debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 39 months, said the company in a BSE filing.

The shares of Sun Pharma are currently trading 0.44 per cent higher at Rs 794.50. On private placement basis, Rs 1,000 crore by allotting 10,000 unsecured redeemable non-convertible debentures of a face value of Rs 10,00,000 each, the company further added.