Today, Jubilant Life Sciences announced that its subsidiary Jubilant Pharma had raised $300 million (approx Rs. 1,998 crores) through the issuance of five-year bonds to mainly retire debts. The announcement has given a little push to the Jubilant share price.
Their material wholly-owned subsidiary, Jubilant Pharma Ltd, has effectively completed the pricing of its rated unsecured high yield bonds (Notes) at a deferment of 4.875 per cent per annum. The bonds were issued at par for $300 million and will be maturing in September 2021.
Jubilant said that the net proceeds of the Notes should be used to prepay the on hand debt of Jubilant Pharma and its subsidiaries. It will also be used for up-streaming up to $50 million to Jubilant Life Sciences for prepayment of its existing debts and general corporate purposes.
Jubilant share price went as high as 3.4% intraday to trade at Rs. 610.30 while its intraday low stands at 587.40 so far. By 1:00 PM, over five lakhs shares were traded on the NSE counter against an average of 15.56 lakhs shares for twenty days. The company has the PE of 101.41 and the market cap of 9403.96 crores as on date. Jubilant has the turnover of 4.74 crores and 8.16% promoter holding pledged.
Jubilant share price of face value Re. One traded at the 52 weeks high and the lifetime high of Rs. 654.75 on 27th September 2016. The stock traded at the 52-weeks low of Rs. 275.65 on 18th January 2016 and the lifetime low of Rs. 3.46 on 16th April 2001.
Jubilant is the Multibagger stock of the month by Dynamic Levels. Its previous close of Rs. 590.40 is close to its major support level of Rs. 575.25, while the stock’s closest resistance stands at Rs. 643.95. For more levels of support and resistance of Jubilant, visit Jubilant share price forecast page of Dynamic Levels website.
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