With reference to the news reported in Business Line, 16/09/2015, ‘Orchid Pharmaceuticals in talks with banks to rejig debt’, Orchid Chemicals & Pharmaceuticals has clarified that the company is currently in talks with banks to explore the possibility of converting its rupee debt into dollar denominated debt. This plan is to try and reduce the interest burden on the company which will ultimately be beneficial to the companys bottom line.They will keep the stock exchanges informed as and when further developments take place.'
The above information is a part of company’s filings submitted to BSE.
