On Thursday, drug firm Jubilant Science (Jubilant Pharma Limited) said it has issued commercial papers worth Rs 90 crores.
In a regulatory filing, the company said, this instrument will last for 53 days, until its maturity on January 18, 2021.
Commercial paper is an unsecured money market instrument that is issued as a promissory note. This note act as a financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on-demand or at a specified future date.
It was introduced in 1990 in India to enable corporate borrowers to diversify their source of short-term borrowings and to provide an additional instrument to investors.
Jubilant Pharma Limited deals with an integrated global pharmaceutical and life sciences company engaged in the manufacture and supply of Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products, and Life Science Ingredients.
On BSE, shares of Jubilant Life Sciences closed at Rs 719 per scrip and it was up by 1.38 percent for its previous close.