JPJubilant Pharmova530019NCD issuance

Finance Committee approves allotment of 80,000 NCDs aggregating Rs. 800 crore

The Finance Committee approved allotment of 80,000 Unsecured, Rated, Listed, Redeemable NCDs of face value Rs. 1,00,000 each, aggregating Rs. 800 crore, on a private placement basis.

By ScoutQuest · Thu 5 Nov 2026, 10:23 PM IST · 2 min read

Issue Size

80,000 Unsecured, Rated, Listed, Redeemable NCDs of face value Rs. 1,00,000 each, aggregating Rs. 800 crore

Coupon

8.50% p.a.

Tenure

3 Years

What the company did

• The Finance Committee of the company, at its meeting held on Thursday, November 5, 2026, approved the allotment of 80,000 Unsecured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs).
• Each debenture has a face value of Rs. 1,00,000, is issued at par, and the issue aggregates to Rs. 800 crore.
• The NCDs were allotted on a private placement basis to the successful bidders.
• This follows the company's earlier disclosure dated October 12, 2026 on the proposed issuance.

Key terms at a glance

• Coupon: 8.50% p.a.
• Tenure: 3 Years
• Date of Allotment: 05 November 2026; Date of Maturity: 05 November 2028
• Listing: Yes, on BSE Limited
• Charge or security created over the assets: None - the debentures are unsecured
• Special rights or privileges attached: Nil
• The update marks delay in payment of interest or principal beyond three months, or default, as NA, and records Nil letters or comments regarding payment or non-payment.

What an NCD is, in simple terms

• An NCD is a loan in the form of a tradable instrument. The company borrows money from investors, pays a fixed interest (the coupon) at regular intervals, and returns the face value on maturity.
• A private placement means the debentures are sold to a select set of investors rather than through a public issue open to everyone.
• Unsecured means the debenture holders do not have a claim on any specific asset of the company; they rely on the company's overall ability to pay.
• Since these debentures are proposed to be listed on BSE Limited, they can change hands on the exchange after allotment.

What the terms suggest

• The coupon of 8.50% p.a. is the fixed cost the company will pay on these debentures until maturity, with principal repayable as per the Key Information Document referred to in the update.
• The tenure of 3 Years, together with the stated maturity date of 05 November 2028, sets out how long this borrowing stays on the books.
• Because there is no charge on assets, existing secured lenders' claims are not diluted by a fresh asset charge.
• The instrument is stated to be rated, and the investor base is limited to the successful bidders in the placement.

What to keep in mind

• This is a borrowing event, not a capital-raising through equity, so the number of shares does not change.
• The coupon and tenure are fixed at allotment; the schedule of interest and principal payment is set out in the Key Information Document referred to in the update.
• The update records no charge on assets and no special rights attached to the instrument.

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