Torrent Pharmaceuticals Raises ₹2 Billion Through Commercial Paper Issue

Torrent Pharmaceuticals Ltd, a leading Indian pharmaceutical company, has successfully issued commercial papers (CPs) worth ₹2 billion on March 25, 2025. The CPs, which are unsecured short-term debt instruments, carry a competitive discount rate of 7.13% per annum and have a 90-day tenure, maturing on June 23, 2025. This strategic financial move is part of Torrent Pharma's efforts to efficiently manage working capital and fund operational needs. The CPs will be available for trading on the National Stock Exchange of India. This issuance reflects the company's strong financial position and its ability to leverage money market instruments effectively. Torrent Pharma's shares closed at ₹3,223.50 on the day of the announcement.

 

Source: CNBC TV18