Torrent Pharmaceuticals has approved a plan to raise up to USD 1.51 billion through the issuance of secured, rated, listed and redeemable non-convertible debentures (NCDs), according to a regulatory filing.

The fundraising approval was granted by the company’s Securities Transfer and Stakeholders Relationship Committee. The bonds will be issued in one or more tranches on a private placement basis and will be listed on the Wholesale Debt Market segment of the National Stock Exchange.

The debentures will carry a face value of INR 100,000 each, with the final terms — including tenure, coupon rate, allotment date and maturity — to be determined at the time of issuance. The NCDs will be secured by designated accounts and identified trademarks of the company, providing a security cover of at least 1.1 times.

The proposed bond issuance is aimed at strengthening Torrent Pharma’s financial flexibility and supporting its strategic growth initiatives. While the company has not disclosed specific details on the utilisation of proceeds, the funds are expected to support liquidity requirements, potential investments and long-term capital needs.

Torrent Pharmaceuticals is a leading Indian pharmaceutical company with a strong presence across domestic and international markets, supported by a diversified portfolio and globally accredited manufacturing facilities.