Zydus Wellness to raise up to ₹1,500 cr by debt instruments

PTI New Delhi | Updated on January 11, 2019 Published on January 11, 2019

The transaction is expected to close by the end of this financial year

Zydus Wellness plans to raise up to ₹1,500 crore through issuance of non-convertible debentures on a private placement basis.

The company said it will raise funds in three tranches.

“The fund raising committee approved the specific terms of the issue of rated, secured, listed, redeemable, non-convertible debentures (NCDs) each having a face value of ₹10 lakh of the aggregate nominal value up to ₹1,500 crore,” the company said in a Bombay Stock Exchange (BSE) filing.

In October 2018, Zydus Wellness had announced acquisition of Heinz India’s consumer wellness business, which includes popular brands like Complan and Glucon D.

Zydus Wellness and Cadila Healthcare jointly signed definitive pacts to acquire Heinz India for ₹4,595 crore which includes net working capital of ₹40 crore, cash of ₹15 crore and assumes no debt.

Heinz India is a subsidiary of the US-based Kraft Heinz. Cadila Healthcare holds majority stake in Zydus Wellness.

The transaction is expected to close by the end of this financial year.

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Published on January 11, 2019
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