Stocks

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

| Updated on January 11, 2019 Published on January 11, 2019

FMCG firm Zydus Wellness plans to raise up to ₹1,500 crore through issue of non-convertible debentures on private placement basis. In October 2018, Zydus Wellness had announced acquisition of Heinz India’s consumer wellness business, which includes popular brands 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 US-based Kraft Heinz. Cadila Healthcare holds majority stake in Zydus Wellness. Shares of Cadila Healthcare slipped 0.16 per cent at ₹349.20 on the BSE.

Published on January 11, 2019
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