Yes Bank has subscribed to IPCA Laboratories’ 200, 9.25% Secured, Redeemable Non Convertible Debentures of the face value of Rs 10 lakhs each, amounting to Rs 20 crore. These debentures will be redeemed in four equal installments of Rs 5 crore each beginning at the end of the second year from the date of allotment which is December 12, 2012. Further, these Non Convertible Debentures are proposed to be listed on the wholesale debt segment of the National Stock Exchange of India.
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.
