Orchid Chem allots 6.52 lakh shares

Orchid Chemicals & Pharmaceuticals Ltd has allotted 6,52,531 equity shares upon conversion of FCCBs worth $3.540 million.

Orchid Chemicals & Pharmaceuticals Ltd has allotted 6,52,531 equity shares upon conversion of Foreign Currency Convertible Bonds (FCCBs) worth $3.540 million.

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At the recently held meeting the Allotment Committee of the Board of Directors allotted the shares of Rs 10 each issued at a price of Rs 243.80 per share upon FCCB conversion.

Under the Employee Stock Option Plan 13,879 equity shares were also allotted to the employees at the meeting, the company informed the Bombay Stock Exchange.

Consequently the company's paid-up capital has increased to Rs 64,61,81,820 from Rs 63,95,17,720.