Wanbury Restricted, a pharmaceutical firm with international API and home formulations operations, introduced right now it has efficiently refinanced ₹150 crore of excellent debt at a lowered rate of interest of 12.5 per cent.
The shares of Wanbury Restricted had been buying and selling at ₹195.10 up by ₹6.81 or 3.62 per cent on the NSE right now at 11.15 am.
The corporate has repurchased its complete difficulty of 21 per cent Secured Non-Convertible Debentures price ₹95 crores initially positioned in July 2023 with NEO AIF and associates. The refinancing was facilitated via a ₹175 crore debt facility from Rising India Credit score Alternatives Fund II, an affiliate of Investec Capital Providers.
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The brand new association represents a big discount from the earlier 21 per cent rate of interest. The mortgage has a five-year reimbursement time period with a mean life of three.25 years and features a nine-month moratorium interval.
Mohan Rayana, Entire-time Director of Wanbury, said the refinancing displays the corporate’s “dedication to monetary stability and progress” and can lead to “vital financial savings in curiosity price.”
Wanbury operates two USFDA & EUGMP accredited manufacturing amenities. The corporate exports APIs to greater than 50 nations and has a pan-India presence in pharmaceutical formulations throughout a number of therapeutic classes.
