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Orchid Chemicals raises $200 m

CHENNAI : Orchid Chemicals & Pharmaceuticals has placed a zero coupon Foreign Currency Convertible Bond (FCCB) offering of $175 million with a greenshoe option of $25 million, aggregating $200 million. The bonds are convertible at an initial conversion price of Rs. 348.34, which represents a premium of 30 per cent over Monday's (February 12) closing price of the company's scrip on the NSE (Rs. 267.95), says a release.

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