Drug firm Jubilant Life Sciences on Thursday said it has issued commercial papers worth Rs 90 crore. Tenure of the instrument is 53 days and date of maturity is January 18, 2021, Jubilant Life Sciences said in a regulatory filing.
Commercial paper is an unsecured money market instrument issued in the form of a promissory note.
It was introduced in India in 1990 to enable highly rated corporate borrowers to diversify their sources of short-term borrowings and to provide an additional instrument to investors.
Shares of Jubilant Life Sciences closed at Rs 719 per scrip on BSE, up 1.38 percent from its previous close.
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