Orchid Healthcare, promoter group company of Orchid Chemicals and Pharmaceuticals (OCPL), has picked up 1,48,09,801 equity shares for Rs 73.73 crore in OCPL on preferential basis.
OCPL has allotted the shares for Rs 49.79 per share, as the first tranche to the promoter group company on preferential basis as per the Corporate Debt Restructuring (CDR) Scheme approved by the CDR Empowered Group in terms of CDR Scheme. The company, which had around Rs 3,500 crore debt earlier, has been going through CDR programme in the recent past.
Orchid Chemicals & Pharmaceuticals is a pharmaceutical company engaged in development and manufacture of active pharmaceutical ingredients (APIs) and finished dosage forms. It is also engaged in research of new drugs. The company was incorporated in the year 1992 as a 100% export-oriented unit (EOU).
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1679.85 |
| Dr. Reddys Lab | 1333.05 |
| Cipla | 1305.85 |
| Zydus Lifesciences | 947.10 |
| Lupin | 2340.20 |
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