Jubilant Pharmova plans about $150 million rupee bond sale, bankers say
India's Jubilant Pharmova is set to raise about 14 billion rupees via three-year bonds, two bankers told Reuters, to fund capex and overseas refinancing.
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what happened
India's Jubilant Pharmova plans to raise about 14 billion rupees, roughly $150 million, through a rupee bond offering, two merchant bankers told Reuters on Friday. Most of the money is earmarked for capital expenditure, along with refinancing project-related liabilities at overseas units in North America.
The bonds are three-year notes with bullet maturity. The company did not respond to Reuters' request for comment. The notes carry an AA+ rating from India Ratings, and the company could enter the debt market before the end of next month.
why it matters
For the broader market this is a local corporate story. A rupee placement shows that Indian pharma companies still fund expansion through the domestic debt market. The AA+ rating and expected strengthening of the business profile point to moderate credit risk, and the deal is small in scale.
tags
instruments
sources
- India's Jubilant Pharmova eyes $150 mln through rupee debt sale, bankers say — Reuters, 23 October 2026 at 09:15 UTC
- Jubilant Pharmova eyes $150 million through rupee debt sale, bankers say — Moody's, 23 October 2026 at 11:54 UTC
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