Marksans Pharma Gains on Agreement with Bond Holders

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    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 29.35BSE Quote0.25 (0.85%)
    NSE 29.35NSE Quote0.3 (1.02%)
     

    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.

    GoodReturns.in

    Read more about: marksans pharma
    Story first published: Monday, June 22, 2015, 12:38 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more