The Board of Directors of Biocon is set to meet on November 11, 2025, to consider the early redemption of 50,000 unlisted, secured, rated, redeemable Non-Convertible Debentures (NCDs) with a face value of INR 1,00,000 each. The board will also discuss raising funds through the issuance of Commercial Papers (CPs) on a private placement basis. The NCDs were initially issued on May 19, 2023.
Debenture Redemption on the Horizon
Biocon’s Board of Directors will convene on November 11, 2025, to deliberate on the early redemption of its Non-Convertible Debentures (NCDs). Specifically, the agenda includes the redemption of 50,000 unlisted, secured, rated, and redeemable NCDs. Each debenture has a face value of INR 1,00,000.
These debentures were initially issued and allotted by the company via private placement on May 19, 2023. The redemption is subject to necessary approvals and on a date determined by the Company.
Potential Fund Raising Via Commercial Paper
In addition to the debenture redemption, the Board will also consider raising funds through the issuance of Commercial Papers (CPs). These CPs will be issued on a private placement basis, and potentially in multiple tranches, depending on market conditions and the company’s funding requirements.
Additional Information
Further details regarding these matters will be available on Biocon’s official website at www.biocon.com.
Source: BSE
