Orchid Chemicals and Pharmaceuticals has secured no objection certificates (NOCs) from the lenders to complete its $200 million deal with US-based Hospira Inc. The company now expects to close the deal within the end of this month. Orchid Chemicals plans to utilise these funds for repayment of debt around Rs 800 crore.
Back in August 2012, Orchid had entered into business transfer agreement (BTA) with Hospira for the sale of former’s active pharmaceutical ingredient (API) manufacturing facility in Aurangabad, Maharashtra and an associated research and development (R&D) facility in Chennai for around $200 million.
The Business Transfer Agreement (BTA), which was expected to be sealed within March 31, 2013, was extended till June 30,2013 since the closing conditions were not met. The deal was also delayed as IDBI Bank approached the court with a dispute related to conversion of part of its money lended to the company to equity. Nevertheless, the bank sought the company to meet the conditions stated in its loan agreement before selling the business.
| Company Name | CMP |
|---|---|
| Sun Pharma Inds. | 1675.20 |
| Dr. Reddys Lab | 1235.40 |
| Cipla | 1238.30 |
| Zydus Lifesciences | 942.55 |
| Lupin | 2324.25 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: