Sun Pharma Eyes ₹15,000 Cr NCD Issue; Board Set for Oct 12

Sun Pharmaceutical Industries Ltd (SUNPHARMA) announced that its board will convene on Monday, Oct 12 to deliberate a potential issuance of listed, rated, unsecured, redeemable NCDs up to ₹15 000 cr. The move is slated to be executed via private placement in one or more tranches.

The proposed NCDs would carry a fixed coupon and be redeemable at par, with a rating of AA‑ or higher, according to the company’s filing. The tranche structure allows the firm to tailor maturity and coupon terms to investor demand, while preserving liquidity.

In parallel, Sun Pharma disclosed a licensing and manufacturing pact with LIB Therapeutics Inc. for the PCSK9 inhibitor lerodalcibep, approved in the EU as Lyrokaul. The deal opens a $3.7 billion market outside the US and China, where the drug targets hypercholesterolemia.

Shares closed at ₹1,783.25 on the BSE, down ₹17.75 or 0.99% after the announcement, reflecting investor caution over the debt issuance. The stock traded in the 1,750–1,800 range throughout the session.

Analysts note that the NCD issuance could strengthen Sun Pharma’s capital base ahead of its 2027 earnings call. The firm is expected to provide guidance on debt utilisation and dividend policy in the coming quarter.