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Zydus Wellness to raise up to Rs 1,500 cr by debt instruments in 3 tranches

In October 2018, Zydus Wellness had announced acquisition of Heinz India's consumer wellness business

Press Trust of India  |  New Delhi 

Zydus Cadilla, healthcare, Sentynl, Ahmedabad
Representative Image

FMCG firm plans to raise up to Rs 1,500 crore through issuance of on a private placement basis.

The company said it will raise funds in three tranches.

"The fund raising committee...approved the specific terms of the issue of rated, secured, listed, redeemable, (NCDs) each having a face value of Rs 10 lakh of the aggregate nominal value up to Rs 1,500 crore," the company said in a BSE filing.

In October 2018, had announced acquisition of India's consumer wellness business, which includes popular brands like Complan and Glucon D.

and jointly signed definitive pacts to acquire India for Rs 4,595 crore which includes net working capital of Rs 40 crore, cash of Rs 15 crore and assumes no debt.

India is a subsidiary of the US-based Kraft Heinz. holds majority stake in Zydus Wellness.

The transaction is expected to close by the end of this financial year.

First Published: Fri, January 11 2019. 18:15 IST