Stock to watch: Jubilant Life Sciences
DSIJ Intelligence / 27 Apr 2017
As on April 27, 2017, the company's stock traded at Rs 771.95, down by 1.41 per cent on the BSE at 11:44 hrs IST.
Singapore-based pharma giant, Jubilant Life Sciences may list its subsidiary through a initial public offering in Singapore, to raise an enormous amount of USD 500 million, according to media reports.
The pharma major which has operations in USA and Canada as well, supposedly reached out to potential IPO advisors, recently. The company had issued high yield bonds worth USD 300 million in Singapore in the previous year.
The company received USFDA's approval for Olmesartan Medoxomil tablets on April 24, 2017, adding the second USFDA approval to its basket in the current year.
The Olmesartan Medoxomil tablets, 5mg, 20 mg and 40 mg, is a generic version of Benicar of Daiichi Sankyo, and is used for treating hypertension.
Jubilant Life Sciences also raised a sum of Rs 100 crore by issuing commercial papers for a period of 63 days on April 18, 2017.
As on April 27, 2017, the company's stock traded at Rs 771.95, down by 1.41 per cent on the BSE at 11:44 hrs IST.
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