Dr Reddy’s Laboratories Fixes Record Date for 6:1 Bonus Debentures

by khalid on 09/03/2011 · 0 comments

Pharma company Dr Reddy’s Laboratories Limited has informed the share market (BSE) that the Board of Directors of the company has fixed 18th March 2011 as Record Date for the purpose of determination of Members who would be entitled to receive the Bonus Debentures. This was decided by the company at its recently held meeting. The company is going to issue bonus debentures at the ratio of six fully-paid unsecured redeemable non-convertible bonus debentures of of Rs. 5.00 each for every one existing equity shares of Rs 5.00 each on the Record Date. Dr. Reddy’s Laboratories Limited is an integrated pharmaceutical company focused on providing medicines through its three business segments: Global Generics segment, Pharmaceutical Services and Active Ingredients (PSAI) segment and Proprietary Products segment.

The offering of bonus debentures was pursuant to a scheme of arrangement sanctioned by the High Court of Andhra Pradesh on 18th July 2010 which has come into effect on 1st February 2011.

The board of directors also fixed the coupon rate on these debentures at 9.25%, payable annually, and the debentures would be redeemed at par at the end of 36 months from the date of allotment.

Share’s Data :-
BSE Code : 500124
Market Cap : Rs 27,402.79 Crores
Astra Microwave Products Ltd. share’s CMP is Rs 1,619.55 on 9th Mar 2011.

Stay tuned to BelltheBull Blog for more news on Dr Reddy’s Laboratories Limited !

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