What is Torrent Pharmaceuticals' latest financial move?

Torrent Pharmaceuticals' board approved raising up to Rs 12,500 crore through the issuance of securities.

How will Torrent Pharma raise Rs 12,500 crore?

The company will raise funds via private placement of secured, rated, listed, and redeemable non-convertible debentures.

What type of securities will Torrent Pharma issue?

Torrent Pharma will issue secured, rated, listed, and redeemable non-convertible debentures.

Home / Business and Economy / Torrent Pharma Eyes Rs 12,500 Cr Capital Infusion

Torrent Pharma Eyes Rs 12,500 Cr Capital Infusion

5 Jan

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Summary

Torrent Pharma's board approved raising up to Rs 12,500 crore.
Funds will be raised via private placement of securities.
Debentures will be secured, rated, listed, and redeemable.

Torrent Pharma Eyes Rs 12,500 Cr Capital Infusion

Torrent Pharmaceuticals has revealed plans for a major capital raise, with its board approving the issuance of securities valued at up to Rs 12,500 crore. This financial maneuver is set to be executed through a private placement.

The company's Securities Transfer and Stakeholders Relationship Committee greenlit the issuance of secured, rated, listed, and redeemable non-convertible debentures. These will be offered in one or more tranches, providing flexibility in how the capital is secured.

This strategic fundraising follows Torrent Pharma's previous acquisition of a majority stake in J B Chemicals and Pharmaceuticals for Rs 19,500 crore last year. The company's stock recently closed slightly down on the BSE.

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