India New Issue-Torrent Pharma completes largest acquisition-funding debt this fiscal year, bankers say

J B Chemicals and Pharmaceuticals

19/01/2026 04:04

MUMBAI, Jan 19 (Reuters) - India's Torrent Pharmaceuticals TORP.NS has accepted bids worth 110 billion rupees ($1.21 billion) through multiple maturity bonds in the largest acquisition-funding deal so far this financial year, two bankers said on Monday.

The company raised 20 billion rupees through two-year bonds, 25 billion rupees through three-year bonds, 30 billion rupees through four-year papers and 35 billion rupees via a five-year debt.

The company invited commitment bids for all issues on Friday and secured large mutual funds and pension funds as anchor investors.

Torrent is raising funds for acquiring a controlling stake in JB Chemicals & Pharmaceuticals. The company will acquire a controlling stake in JB at an equity valuation of about 257 billion rupees on a fully diluted basis, to be followed by a merger of the two companies.

Torrent Pharma did not reply to a Reuters email seeking comment.

 Here is the list of deals reported so far on January 19:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Torrent Pharmaceuticals
2 years
7.45
20
January 16
AA+ (India Ratings, Icra)
Torrent Pharmaceuticals
3 years
7.60
25
January 16
AA+ (India Ratings, Icra)
Torrent Pharmaceuticals
4 years
7.70
30
January 16
AA+ (India Ratings, Icra)
Torrent Pharmaceuticals
5 years
7.80
35
January 16
AA+ (India Ratings, Icra)

   * Size includes base plus greenshoe for some issues

($1 = 90.7112 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

 ((Dharamraj.dhutia@tr.com))