Orchid Chemicals redeems FCCBs worth Rs 820 cr

Orchid Chemicals & Pharmaceuticals today 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% from previous close.