By Devika Patel
Knoxville, Tenn., Oct. 5 - Ipca Laboratories Ltd. informed the Bombay Stock Exchange that it sold Rs. 500 million of 9.95% secured redeemable non-convertible debentures to Barclays Bank plc and SBI Life Insurance Co. Ltd.
The company sold 500 debentures at Rs. 1 million each. Barclays and SBI each subscribed to Rs. 250 million of the debentures. The debentures may be put or called after three years and mature in five years.
Ipca is a Mumbai, India-based pharmaceutical company.
| Issuer: | Ipca Laboratories Ltd.
|
| Issue: | Secured redeemable non-convertible debentures
|
| Amount: | Rs. 500 million
|
| Maturity: | Five years
|
| Investors: | Barclays Bank plc and SBI Life Insurance Co. Ltd., each for Rs. 250 million
|
| Coupon: | 9.95%
|
| Price: | Par of Rs. 1 million
|
| Call: | After three years
|
| Put: | After three years
|
| Settlement date: | Oct. 5
|
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