Jubilant Life Sciences to raise $ 250 million

The Board of Directors of Jubilant Life Sciences Ltd in its meeting held May 07, 2013, accorded its approval to constitute a committee to explore options and opportunities to raise debt for the Company, including by way of issue of foreign currency bonds and /or non-convertible debentures, or by any one or more or a combination of the above or otherwise, to be denominated in Indian rupees or foreign currency, as the case may be, to various eligible investors in or outside India, whether by way of a public offering or by way of a private placement, in the best interests of the Company and all its stakeholders, up to an amount not exceeding US $ 250 million for prepayment of the existing debt and other general corporate purposes without increasing the overall net debt levels of the Company.

Shares of was last trading in BSE at Rs.161.05, down by Rs.0.65 or 0.40%. The stock hit an intraday high of Rs.163 and low of Rs.160.65.

The total traded quantity was 1559 compared to 2 week average of 13072.

Source : Equity Bulls

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