Jubilant Life Sciences has received approval to raise funds upto Rs 350 crore through issuance of redeemable Non-Convertible Debentures (NCDs) on private placement basis. The proposed issue has been rated ‘AA/Stable’ by CRISIL.
The proceeds would be mainly utilised for repayment of the existing debt and to reduce the overall cost of borrowing. The board of directors of the company at its meeting held on June 27, decided to obtain approval of the shareholders of the company.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in Pharmaceuticals, Life Science Ingredients and Drug Discovery Solutions.
