Alembic Pharma shares trading higher after raising capital through NCDs

Drug firm Alembic Pharmaceuticals Tuesday said it has raised Rs 150 crore through the allotment of non-convertible debentures (NCDs) on private placement basis. These NCDs carry a coupon rate of 8.37 per cent per annum and are proposed to be listed on NSE.

"The NCD Committee of Alembic Pharmaceuticals Ltd at its meeting held today has allotted 1,500, 8.37 per cent unsecured listed rated redeemable NCDs of Rs 10,00,000...aggregating to Rs 150 crore under tranche III," the company said in a regulatory filing. Date of maturity of these NCDs is March 18, 2022. Shares of Alembic Pharma were trading 0.53 per cent higher at Rs 542 apiece on BSE.