Pharma major Jubilant Life Sciences Limited on Tuesday said that it has raised Rs 100 crore through issuing commercial papers. Commercial paper (CP) is an unsecured money market instrument issued in the form of a promissory note.
In a BSE filling, Jubilant Life Sciences said, “The company has issued commercial papers of Rs 100 crore on April 18, 2017. The tenure of instrument is 63 days.”
"The coupon/interest offered is 6.49 per cent per annum," it also added.
The company however did not mention any details about the plans with the raised money.
At 15.02 on Tuesday, Stock of Jubilant Life Sciences Limited was trading at Rs 819.00, down by Rs 7.80 or 0.94% on the BSE.