Jubilant Ingrevia issues CPs worth Rs 150 cr

Jubilant Ingrevia issued Commercial Papers (CPs) of Rs 150 crore on 20 December 2022.

The CPs, carrying coupon of 7.05% per annum, were allotted on Tuesday, 20 December 2022. The instrument will mature on Friday, 10 February 2023. Payment of interest will be upfront and payment of principal amount will be on maturity.

The company's finance committee on 6 February 2021, approved issuing worth upto Rs 450 crore outstanding at any point of time, in one or more tranches.

The aggregate amount of CPs (including this issue) outstanding as on date is Rs 150 crore, the company added.

Jubilant Ingrevia is a global integrated life science products and innovative solutions provider serving, pharmaceutical, nutrition, agrochemical, consumer and industrial customers with its customised products and solutions that are innovative, cost effective and conforming to premium quality standards. The company is engaged in manufacturing and supply of speciality chemicals, nutrition & health solutions and chemical intermediates through five manufacturing facilities in India.

The company's consolidated net profit declined 23.9% to Rs 84.28 crore despite of 6.7% rise in net sales to Rs 1,298.98 crore in Q2 FY23 over Q2 FY22.

Shares of Jubilant Ingrevia was down 0.14% to Rs 540.60 on the BSE.

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