Drug firm Jubilant Life Sciences on Thursday said it has issued commercial papers worth Rs 90 crore.
About Company
Jubilant Life Sciences Limited is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients, drug discovery solutions and India branded pharmaceuticals.
Jubilant Life Sciences Limited has a team of around 8,000 multicultural people across the globe and is committed to delivering value to its customers in over 100 countries.
The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals and life sciences companies worldwide.
About Commercial Paper
Commercial paper is an unsecured money market instrument issued in the form of a promissory note.
It was introduced in Indiain 1990 to enable highly rated corporate borrowers to diversify their sources of short-term borrowings and to provide an additional instrument to investors.
Coupon Rate
The instrument holds a coupon rate of 3.68% per annum.
Maturity Period
Tenure of the instrument is 53 days and date of maturity is January 18, 2021, Jubilant Life Sciences said in a regulatory filing.
Company’s Performance
Life Sciences reported 10.1% decline in consolidated net profit to Rs 224.12 crore on 4% rise in net sales to Rs 2,326.36 crore in Q2 FY21 over Q2 FY20.
Stock Market Impact
Shares of Jubilant Life Sciences closed at Rs 719 per scrip on BSE, up 1.38 per cent from its previous close.
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