Ipca Laboratories is eyeing to raise Rs 25 crore via 5-year bonds at 9.95 percent. The bond will have a put/call option at the end of 3rd year.
Recently, the company received an approval for amalgamation of Tonira Pharma with the company with effect from April 01, 2011 being the appointed date through a scheme of amalgamation. The board at its meeting held on September 17, 2011 had considered and approved the same. However, the proposed scheme of amalgamation would be subject to all necessary permissions and approvals, as may be required.
Ipca Laboratories is engaged in manufacturing of active pharmaceutical ingredients and formulations. It operates in 110 countries and its export accounts for 50% of the company’s income. Worldwide the company is one of the largest suppliers of APIs and intermediates. The company holds leadership position in Anti-malarial and Rheumatoid Arthritis area.
