JUBLPHARMAJubilant Pharmova Ltd
ICRA assigns AA+/Stable to Jubilant Pharmova’s proposed ₹1,400 crore of NCDs
- Credit rating
- Pharmaceuticals
Jubilant Pharmova Limited has told the exchanges that ICRA Limited has assigned a rating of [ICRA] AA+ (Stable) to the company’s proposed non-convertible debentures (NCDs) of ₹1,400 crore. The rating was given in ICRA’s letter dated 13 Oct 2026, which the company received at 5:09 PM IST that day, and the company made the disclosure on 14 Oct 2026 under Regulation 30 of the SEBI listing rules.
The rating action is listed as “assigned”, so this is a first rating for the proposed instrument and not a revision of an earlier one. The company has attached ICRA’s rating letter to the filing and says the disclosure is also on its website.
Inference
A rating on proposed debentures is an agency’s opinion of how well the company could service the debt if it issues it. A stable outlook means the agency does not currently expect to change that rating.
The filing does not say whether the company has decided to issue the NCDs, when it might do so, or what the money would be used for.
Reference: Original filing (PDF)
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