Torrent Pharma raises Rs.12,500-Cr via CP, NCDs for JB Chemicals acquisition

Ahmedabad-based, publicly listed Torrent Pharmaceuticals has raised INR 12,500 crore through the issue of debentures for financing the 46.39% stake acquisition of JB Chemicals & Pharmaceuticals.The issue included a one-year commercial paper for INR 1,500 crore. The Non-Convertible Debentures (NCDs) were raised at 7.45% for INR 2,000 crore (two-year), 7.60% for INR 2,500 crore (three-year), 7.70% for INR 3,000 crore (four-year), and 7.80% for INR 3,500 crore (five-year). The round saw participation from mutual funds, insurance companies, and pension funds.Torrent Pharma specializes in manufacturing generic drugs, with a focus on therapeutic segments like cardiovascular, CNS, gastrointestinal health, Vitamins Minerals Nutritionals (VMN) and Cosmo-Dermatology. The company has 8 manufacturing facilities and presence in more than 50 countries