Orchid Chemicals redeems FCCBs worth $167.64 million

NEW DELHI: Orchid Chemicals & Pharmaceuticals said it has redeemed outstanding overseas securities worth $167.64 million (over Rs 820 crore) on the due date.

The company has redeemed the outstanding Foreign Currency Convertible Bonds ( FCCBs), including yield-to-maturity, aggregating to $167.64 million on the due date, February 28, 2012, Orchid Chemicals said in a statement.

The Chennai-based firm had issued the bonds in February 2007.

Established in 1992 as an export-oriented unit (EOU), Orchid Chemicals & Pharmaceuticals is a vertically integrated company spanning the entire pharmaceutical value chain from discovery to delivery.

Shares of the company today closed at Rs 187.60 on the BSE, up 4.98 per cent from previous close.