Sun Pharmaceutical Industries will hold a board meeting on 12 October 2026 to consider issuing non-convertible debentures (NCDs) worth up to ₹15,000 crore, according to a regulatory filing. The NCDs will be listed, rated, unsecured, and redeemable, and issued via private placement in one or more tranches, the company said in the filing.
The proposed NCD issuance follows Sun Pharma’s recent financing activities, including an $12 billion, 18-month bridge loan syndication closed earlier this year to fund its acquisition of US healthcare company Organon & Co. The bridge loan syndicate included the State Bank of India, the country’s largest lender by assets, as reported by livemint.com. The NCD proceeds are expected to partly refinance this bridge loan.
This move comes amid Sun Pharma’s expanding global footprint, highlighted by its exclusive agreement with US-based LIB Therapeutics to manufacture and commercialize lerodalcibep outside the US and China. Lerodalcibep is a monthly PCSK9 inhibitor for lowering LDL cholesterol, reflecting Sun Pharma’s focus on advanced therapies. The ₹15,000 crore NCD issue would strengthen the company’s debt profile following its large acquisition and licensing deals.
The board meeting on 12 October will decide on the NCD issuance, marking a key step in Sun Pharma’s capital strategy after its recent $12 billion bridge loan closure and global licensing expansion, according to livemint.com.