Torrent Pharma Plans Rs 12500 Cr Fundraising

• Torrent Pharma to raise ₹12,500 cr via private placement of securities.
• Approved issuance of secured, redeemable non-convertible debentures.
• Follows ₹19,500 cr deal for J B Chemicals stake last year.

New Delhi, Jan 5 (PTI) Torrent Pharmaceuticals on Monday said its board has approved to raise up to Rs 12,500 crore via issue of securities on a private placement basis.

The Securities Transfer and Stakeholders

Relationship Committee has at its meeting held on Monday approved the issuance of secured, rated, listed, redeemable non-convertible debentures aggregating up to Rs 12,500 crore in one or more tranches on a private placement basis, the drug firm said in a regulatory filing.

Last year in June, Torrent Pharma said it will a majority stake in J B Chemicals and Pharmaceuticals in a Rs 19,500-crore deal.

Shares of the company on Monday ended 0.25 per cent down at Rs 3,875.10 apiece on the BSE. PTI MSS TRB