Torrent Pharmaceuticals Limited has approved the issuance of secured, rated, listed and redeemable non-convertible debentures (NCDs) aggregating up to Rs 12,500 crore, the company informed stock exchanges on Sunday, January 5, 2026.
The approval was granted by the company’s Securities Transfer and Stakeholders Relationship Committee at its meeting held earlier in the day. The proposed fundraise will be carried out in one or more tranches through private placement, according to the regulatory filing .
Key details of the NCD issue
As per the disclosure, Torrent Pharmaceuticals plans to issue up to 12.5 lakh NCDs, each with a face value of Rs 1 lakh, aggregating to a total size of Rs 12,500 crore. The NCDs will be listed on the Wholesale Debt Market segment of the National Stock Exchange of India.
The tenure, coupon rate, date of allotment and final maturity will be decided at the time of issuance. Interest and principal repayments are proposed to be made on an annual basis .
Security and charge structure
The NCDs will be secured by a first-ranking exclusive charge over a designated account where the proceeds will be deposited, along with a charge over specified trademarks of the company. The security structure is designed to provide a minimum cover of 1.1 times, as stated in the filing .
Regulatory compliance
Torrent Pharmaceuticals clarified that there has been no delay or default in interest or principal payments and that the rights of NCD holders will be detailed in the final debenture trust deed to be executed with the debenture trustee.
The company said the disclosure has been made in compliance with SEBI Listing Regulations, and further details will be shared at the time of each tranche issuance.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
