New Delhi, Nov 26 (PTI) 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.

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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 per cent from its previous close.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)