Marksans Pharma Gains on Agreement with Bond Holders

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Shares of Marksans Pharma gained more than 5 percent on Monday after the company said that it has signed settlement agreement with few bond holders for 36,789 bonds.

"The company had signed settlement agreement with few bond holders for settlement of the then outstanding 36,789 bonds of USD 1,000 each in principal value. Out of that 21,511 bonds have already been settled and cancelled," the phrama company said in its filing.

Marksans Pharma Gains on Agreement with Bond Holders
Marksans Pharma: Quotes, News
BSE 47.85BSE Quote2.6 (5.43%)
NSE 47.70NSE Quote2.9 (6.08%)

The company had earlier filed a suit in the High Court of England seeking specific performance by the bond holder in accordance with the settlement agreement. Further, it said the court disposed off tand said the suit in favour of the company.

Consequently, after execution of 15,278 bonds settlement, only 61 bonds of USD 1,000 each (out of the total issued 50,000 bonds) will remain outstanding.

Shares of the Marksans Phrama was seen trading at Rs 60.45, higher by 2.89 per cent on BSE at 12.30 PM IST. It touched an intra-day high of Rs 62.40 during the trade.

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