Jubilant Pharmova has initiated the process of seeking shareholders' approval through a postal ballot for the issuance of non-convertible debentures (NCDs) on a private placement basis. The proposed aggregate principal amount for these securities will not exceed ₹2,500 crore.

The remote e-voting period commences on Thursday, October 22, 2026, at 9:00 am and concludes on Friday, November 20, 2026, at 5:00 pm. The Postal Ballot Notice was dispatched to shareholders on October 21, 2026. Members whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date of Friday, October 9, 2026, are eligible to vote.

Details of the proposed resolution

The Special Resolution seeks consent for the Board of Directors to make offers or invitations to subscribe to secured and/or unsecured, listed, rated, redeemable NCDs. These issuances may occur in one or more series or tranches during a period of one year from the date of passing the resolution. The authority is enabling in nature and does not obligate the company to raise the entire amount.

The proceeds from the NCDs may be utilized for capital expenditure, refinancing or repayment of existing borrowings, working capital requirements, investments in subsidiaries and businesses, strategic initiatives, acquisitions, and other general corporate purposes. The Board retains the authority to determine specific terms such as tenure, coupon rate, yield, and security structure for each tranche based on prevailing market conditions.

Voting process and timeline

Voting is restricted exclusively to remote electronic voting via the National Securities Depository Limited (NSDL) platform. Physical postal ballot forms are not being distributed. The results of the postal ballot, along with the Scrutinizer's report, will be announced within two working days from the conclusion of the e-voting period, i.e., on or before Tuesday, November 24, 2026.

Institutional shareholders are required to submit scanned copies of relevant board resolutions or authority letters to the Scrutinizer, Mr. Rupinder Singh Bhatia, by email. Individual demat account holders can cast their votes through their depository participant's website using single login credentials as per SEBI guidelines.

Strategic context and debt profile

This proposal operates within the existing overall borrowing limit of ₹5,000 crore approved by members in September 2014. The current request does not seek an increase in this limit but rather allocates a portion of it for private placement debt instruments. The explanatory statement notes that the company has not defaulted on any of its current debt obligations.

By securing this enabling authority, Jubilant Pharmova aims to diversify its funding sources and broaden its eligible investor base without diluting equity share capital. The flexibility to issue NCDs allows the company to respond efficiently to financing requirements and market opportunities while maintaining its leverage and debt-servicing profile within approved regulatory frameworks.

Jubilant Pharmova Limited board has agreed to raise funds through the issuance of up to ₹800 crore in Non-Convertible Debentures (NCDs) via private placement. The decision was taken during a meeting held on October 12, 2026.

The issuance involves up to 80,000 fully paid-up, rupee denominated NCDs with a face value of ₹1,00,000 each. These instruments will be secured or unsecured, listed, rated, redeemable, and transferable. The debentures are proposed to be listed on the Bombay Stock Exchange Limited (BSE).

Meeting Agenda and Approvals

The Board also proposed seeking shareholders' approval for raising up to ₹2,500 crore through debt securities over the next year. This broader authorization allows flexibility for future capital requirements beyond the immediate NCD issuance. The approval for the larger limit is subject to a Special Resolution passed by members through postal ballot, valid for one year from the date of resolution.

Instrument Details and Terms

The NCDs will have a tenure of up to five years from the deemed date of allotment. The coupon or interest rate is to be discovered during the bidding process. Payment frequency for coupons and interest may be annual, monthly, or as applicable on early redemption dates. The specific charge or security over assets, if any, will be prescribed in the Key Information Document (KID).

The company stated that special rights, interests, or privileges attached to the instruments, along with details regarding any delays in payment of interest or principal, will be specified in the relevant Information Memorandum or KID. As of the filing date, there were no letters or comments regarding payment defaults concerning these securities.

Disclosure Compliance

The company filed this intimation with BSE Limited and National Stock Exchange of India Limited on October 12, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notice was signed by Naresh Kapoor, Company Secretary, digitally on October 12, 2026. This procedural step ensures transparency regarding potential changes in the company's debt structure and capital base.