Raises about Rs 11,000 crore via NCD private placement
TORNTPHARM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.9 pts less than Nifty 100 and 0.4 pts less than its Pharmaceuticals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Has allotted about Rs 10,996 crore of senior secured NCDs through private placement in 4 series. Tenures range from 2 to nearly 5 years, with coupons between 7.45 percent and 7.80 percent per annum. The 4 series are listed on the NSE wholesale debt market. Trademarks are pledged as collateral with 1.1x cover.
Adds about Rs 11,000 crore of debt to the books; raises interest outflow but no equity dilution. Use of proceeds not disclosed.