Strides Pharma's promoter firm to raise Rs.200-Cr from Barclays

UK-headquartered Barclays is in the process of providing an INR 200 crore debt facility to Karuna Ventures, the promoter company of Strides Pharma Science against a pledge of the pharma company's shares. The proceeds will be used by Karuna to repay debt raised from banks and other group companies. Of the INR 200 crore, Barclays Merchant Bank (Singapore) has subscribed to secured non-convertible debentures of INR 50 crore maturing in 24 months and INR 150 crore in 37 months.