Torrent Pharmaceuticals said it issued non-convertible debentures (NCDs) worth Rs 195 crore on private placement basis on 24 April 2020.
The NCDs bear a coupon rate of 7.70% p.a. and hold tenure of three years. The debentures will mature on 24 April 2023, the company said in an exchange filing made after market hours on friday, 24 April 2020.
Shares of the drug maker rose 0.72% to end at Rs 2440 on Friday. It has risen 30.66% in the past one month, underperforming the Nifty Pharma index which has risen 39.70% in the same period.
Torrent Pharmaceuticals manufactures bulk drugs and pharmaceutical formulations.
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