Board approves up to 80,000 NCDs of ₹1,00,000 each, aggregating up to ₹800 crore, on private placement basis

Board of Jubilant Pharmova Ltd approved issuance of up to 80,000 secured / unsecured, listed, rated, redeemable NCDs of face value ₹1,00,000 each, aggregating up to ₹800 crore, on a private placement basis, in one or more tranches.

Mon 12 Oct 2026

Number of NCDs

up to 80,000

Face Value per NCD

₹1,00,000 each

Aggregate Issue Size

up to ₹800 crore

Board approvals in brief

• The Board of Directors, at its meeting held on October 12, 2026, considered and approved the issuance of up to 80,000 fully paid-up, rupee denominated, secured / unsecured, listed, rated, redeemable and transferable non-convertible debentures (NCDs) of face value of ₹1,00,000 each, aggregating up to ₹800 crore, on a private placement basis.
• The NCDs are to be issued in one or more tranches, subject to applicable laws and regulatory approvals, if any.
• Separately, the Board approved seeking members' approval by way of a Special Resolution through Postal Ballot for issuance of non-convertible debt securities on a private placement basis, for an aggregate amount not exceeding ₹2,500 crore outstanding at any point of time, during a period of one year from the date of passing of the Special Resolution.

What the NCD terms say so far

• Listing: the NCDs are proposed to be listed on Bombay Stock Exchange Limited (BSE).
• Tenure: up to five years from the Deemed Date of Allotment.
• Coupon / interest offered: as may be discovered during the bidding process.
• Coupon / interest payment frequency: annually, monthly or early redemption date as applicable.
• Charge / security created over the assets: as may be prescribed in the KID.
• Special rights / privileges attached: as may be specified in the relevant Information Memorandum / Key Terms of the issue.
• Delay in payment of interest or principal for a period of more than three months from the due date, or default in payment: as may be specified in the relevant Information Memorandum / KID.

How a retail investor can read this

• NCDs are debt instruments. A company issuing them borrows money and pays interest, and repays the principal at maturity. Issuing debentures does not add to the number of equity shares, so this route does not change the shareholding percentage of existing equity shareholders on account of this issue.
• The securities are described as secured / unsecured, and the update states that the coupon is as may be discovered during the bidding process, while the charge / security and related terms are as may be prescribed in the KID or the relevant Information Memorandum.
• The postal ballot item is a members' authorisation that allows issuance of non-convertible debt securities on a private placement basis up to ₹2,500 crore outstanding at any point of time, valid for one year from the date the Special Resolution is passed.
• Members will vote on this authorisation through a postal ballot, and the company has sought this approval by way of a Special Resolution.

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