Gujarat Themis Biosyn Approves ₹585 Crore Unlisted NCD Programme

Board approved issuance of Non-Convertible Debentures aggregating up to 585 Cr on private placement basis. NCDs will be unlisted; tenure, coupon, security to be disclosed at allotment. Fills the undecided debt leg for pending acquisition funding after equity funding was secured; debt structure was the open item behind the ongoing rating watch. Adds leverage while acquisition closes remain pending; coupon, tenure, security, use of proceeds and timeline undisclosed; final terms and rating outcome remain to be seen.