Sun Pharma falls short of bond fundraising target amid rising yields

Synopsis Sun Pharma successfully secured ?7,816 crore in its latest fundraising round, yet it fell short of its ambitious ?10,000-crore target. The company opted for five- and seven-year bonds, pricing them at 8.05% and 8.20% respectively. A significant ?2,100 crore was raised through anchor investments to bolster this effort, although rising market yields have made investors cautious about committing funds. Listen to this article in summarized format Loading… × Mumbai: Sun Pharma raised ?7,816 crore in five- and seven-year bond tranches, falling short of its ?10,000-crore target as rising market yields meant investors demanded returns higher than what the country’s…