Sun Pharmaceutical Industries said in a regulatory filing on Wednesday that its Board of Directors is scheduled to meet on Monday, 12 October 2026, to consider and approve the issuance of listed, rated, unsecured, and redeemable non-convertible debentures (NCDs).
The proposed NCD issuance will be undertaken on a private placement basis, in one or more tranches, with an aggregate amount not exceeding ₹15,000 crore.
The announcement comes after media reports said the company is planning a rupee-denominated debt sale to partly fund a bridge loan it took to finance the acquisition of US healthcare company Organon & Co., according to three sources cited in a Reuters report.
Reuters reported on September 29, citing sources, that the country's largest drugmaker by market capitalization had closed a syndication of a nearly $12 billion, 18-month bridge loan earlier this year to finance its acquisition of Organon. The syndication also included State Bank of India, the country's largest lender by assets.
Late last month, the company signed an exclusive agreement with US-based LIB Therapeutics to manufacture, commercialize, and globally license lerodalcibep in all markets outside the United States and China.