Jubilant Pharma

completed

JPL’s manufacturing facilities in India include 2 facilities, i.e. (a) Nanjangud manufacturing APIs and (b) Roorkee manufacturing generics (tablets and capsules). In addition, the North American facilities, i.e. 2 facilities in United States of America (in Salisbury, Maryland and Spokane, Washington) and 1 in Canada (Kirkland, Quebec) are part of the pharmaceuticals business. The North American facilities manufacture ointments, creams and liquids (OCLs), sterile injectable, allergy therapy, generics (tablets and capsules), and radiopharmaceuticals.As indicated above, JPL is a fully owned subsidiary of JLS, which is a part of an Indian conglomerate Jubilant Bhartia Group (“JBG” or “the Group”). Headquartered in Noida (Uttar Pradesh) near Delhi, the Group has presence in diverse sectors, in addition to Pharmaceuticals and Life Science Ingredients (LSI), which include Food (Jubilant Food works), Agri & Performance Polymers (Jubilant Industries Limited), Oil & Gas (Jubilant Energy), Retail (Jubilant Retail), Auto (Jubilant Motor works), and Consulting Services in Aerospace & Oilfield industries (Jubilant Enpro).The proposed investment involves an overall IFC arranged financing package (“the Project”) in a combination of quasi equity and debt (including mobilization) to allow JLS to finance the transfer of its Indian pharmaceutical operating assets to JPL and thus consolidate its overall pharmaceutical business under JPL. In the process, the proposed transfer of the Indian assets to Jubilant Generics Ltd (JGL), incorporated in India as a subsidiary of JPL, will enable JLS to decouple fully its chemicals and pharmaceutical businesses for the primary purpose of creating more shareholder value through an offshore listing of JPL once the consolidation is in place. There will not be physical relocation of the production facilities.