Rajani Associates advised Wanbury Limited on issuance secured, unlisted, redeemable and non-convertible debentures aggregating to ₹200 crore, on private placement basis, to Emerging India Credit Opportunities Fund II.
Apart from Wanbury Limited, the firm also acted for Promoters of the Company and other security providers on this NCD issuance.
The transaction team consisted of Rajeev Nair (Partner), Gitika Makhija (Senior Associate) and S. Shivganesh (Senior Associate).
The issuance of the NCDs has been inter alia secured by the immovable properties belonging to the Company, pledge of shares by the shareholders of the Company, hypothecation of receivables apart from Personal Guarantee and Corporate Guarantee by the Promoters of the Company. The proceeds of the issuance of the NCDs are to be utilized by the Company essentially towards repayment of the debt to its existing lenders, working capital and capital expenditure.
Wanbury Limited is a Mumbai-based pharmaceutical company specializing in the manufacturing and marketing of Active Pharmaceutical Ingredients (APIs) and branded generics, both in India and international markets. With a strong presence in therapeutic segments such as gastroenterology, orthopedics, and gynecology, Wanbury is known for its leadership in Metformin production, a key drug for diabetes management. The company has a significant footprint in Europe and Latin America through strategic alliances and regulatory approvals
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