Ranbaxy Laboratories today said it has raised Rs 500 crore via issue of non-convertible debentures to be utilised for general corporate purposes.
"The company on November 23, 2012 has issued 5,000 secured 9.20% redeemable Non-Convertible Debentures of face value of Rs 10,00,000 each, for cash at par, aggregating Rs 500 crore, on a private placement basis, for general corporate purposes," Ranbaxy Laboratories said in a filing to the BSE.
These debentures have been rated AA+ by CARE and are proposed to be listed on National Stock Exchange of India (NSE), it added.
Earlier in the day, the company had announced that it is recalling its generic version of cholesterol- lowering drug Lipitor from the US market, leading to temporary disruption in the supply.
The shares of the company declined by 3.27% from its previous closing price to end the day on the BSE at Rs 495.95 per scrip.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app