Torrent Pharmaceuticals has announced that its Securities Transfer and Stakeholders Relationship Committee (STSRC) approved the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs) aggregating up to ₹12,500 Crores. The NCDs will be issued in one or more tranches on a private placement basis. This decision was made during a meeting held on January 5, 2026.
NCD Issuance Approved
Torrent Pharmaceuticals’ Securities Transfer and Stakeholders Relationship Committee (STSRC) has given the green light for the issuance of Secured, Rated, Listed, Redeemable Non-Convertible Debentures (NCDs). The aggregate amount of the issuance will be up to ₹12,500 Crores (Twelve Thousand Five Hundred Crore). This issuance will be executed through one or more tranches via private placement.
Meeting Details
The STSRC meeting, during which this decision was made, commenced at 10:00 am and concluded at 10:45 am on January 5, 2026. This approval allows the company to proceed with raising substantial capital through debt markets.
Details of NCDs
The NCDs are proposed to be Secured, Rated, and Listed, offering investors a degree of security and liquidity. The exact coupon/interest offered will be determined at the time of issuance, with payments scheduled annually. The NCDs will have a first-ranking exclusive charge over (i) the designated account in which the proceeds will be deposited and (ii) specified trademarks of the issuer to provide a minimum security cover of 1.1x.
Tenure and Maturity
The tenure of the instrument and the date of allotment will be informed at the time of allotment. Similarly, the final date of maturity will also be communicated at the time of allotment. This approach provides flexibility in structuring the NCDs to align with market conditions and investor demand.
Source: BSE
