Alembic Pharma allots NCDs on pvt placement basis, totalling Rs 3.5 bn

Drug firm Alembic Pharmaceuticals Friday said it has raised Rs 350 crore through allotment of non-convertible debentures (NCDs) on private placement basis.

"The NCD committee of Alembic Pharmaceuticals Ltd...has allotted 1,500, 9 per cent rated unsecured listed redeemable non-convertible debentures (NCDs)... aggregating to Rs 150 crore under tranche I," Alembic Pharmaceuticals said in a regulatory filing.

The company said it has also allotted 2,000, 9 per cent rated unsecured listed redeemable NCDs...aggregating to Rs 200 crore.

Shares of Alembic Pharmaceuticals were trading 0.42 per cent lower at Rs 615 apiece on BSE.