Yesterday, Jubilant Ingrevia issued Commercial Papers (CPs) of Rs 150 crore and the commercial papers (CPs) carrying a coupon of 7.05% per annum were allotted. On February 10, 2023, the instrument will mature. Payment of interest will be upfront, and payment of the principal amount will be on maturity.

On February 6, 2021, the finance committee approved the issuance of CPs worth Rs 450 crore outstanding in one or more tranches. The aggregate amount of CPs (including this issue) outstanding as of date is Rs 150 crore, the company added.

Jubilant Ingrevia is a global integrated innovative solutions provider serving life science products, nutrition, pharmaceutical, consumer, agrochemical and industrial customers and conforming to premium quality standards. To manufacture and supply speciality chemicals, chemical intermediates and nutrition & health solutions through five manufacturing facilities in India.

On a consolidated basis, the net profit fell 23.9% to Rs 84.28 crore. Meanwhile, a 6.7% rise in net sales to Rs 1,298.98 crore in the second quarter of FY23 over the second quarter of FY22.

Jubilant Ingrevia’s shares were down 0.14% on BSE to Rs 540.60.