Jubilant Life seeks shareholders' nod to raise upto Rs 1,000cr

Drug firm Jubilant Life Sciences is seeking shareholders nod through postal ballot/e-voting to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) on private placement basis.
"In order to provide necessary flexibility regarding borrowings of the company in an optimal manner depending on the market conditions, the company proposes to offer, issue and allot redeemable NCDs up to Rs 1,000 crore...," Jubilant Life Sciences said in the notice to shareholders that it filed to the BSE.
This approval to the board to raise the amount also stipulates that this could be done in one or more series/ tranches during a period of one year from the date of passing the resolution, it added.

Shares of Jubilant Life Sciences were today trading at Rs 670.25 per scrip in the afternoon trade on BSE, up 2.32 per cent from its previous close.