Jubilant Pharmova eyes $150 million through rupee debt sale, bankers say

Jubilant Pharmova plans to raise around Rs 14 billion ($150 million) through a three-year rupee bond offering to fund capital expenditure and refinance project-related liabilities at overseas subsidiaries. The proposed issuance, rated AA+ by India Ratings, could take place before the end of next month, according to two merchant bankers.

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