The Flip Side of Convertible Financing: The Case of Plethico Pharmaceuticals Ltd.

The Flip Side of Convertible Financing: The Case of Plethico Pharmaceuticals Ltd.

in Journal of International Business Education, Vol. 10, 2015, pp. 337-352 (Edinburgh, Scotland: Neilson Journals Publishing, 2015), 16 page(s)

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Abstract / Summary
By Gaurav S. Chauhan and Pradip Banerjee. In early 2013, Plethico Pharmaceuticals Ltd. had to contemplate very carefully the overdue redemption of its Foreign Currency Convertible Bonds (FCCBs) amounting to INR 5.96 billion. Plethico was a strong multinational pharmaceutical company headquartered in India, with an annual turnover of more than INR 16 billion, and a product portfolio of more than 400 formulations in 20 different therapeutic segments marketed through 200 brands in more than 60 countries. In October 2007, Plethico had raised USD 75 million (INR 2.97 billion) through FCCBs for the acquisition of Natrol Inc., in order to make strategic entry into the regulated markets of the USA and Europe. The FCCBs were listed on SGX-ST Singapore and due to mature on 23 October 2012. Due to being in a difficult cash flow position, Plethico could not redeem the bonds on time and sought from the Reserve Bank of India (RBI) an extension of the maturity date till 23 April 2013.
Field of Interest
Travel
Copyright Message
Copyright © 2015 NeilsonJournals Publishing
Content Type
Periodical article
Format
Text
Page Count
16
Publication Year
2015
Publisher
Neilson Journals Publishing
Place Published / Released
Edinburgh, Scotland
Source Title
Journal of International Business Education, Vol. 10, 2015, pp. 337-352
Subject
Travel, Business & Economics, Personal Interest, Social Sciences, International Travel, Pharmaceutical and Medicine Manufacturing, Viajes Internacionales, Viagem Internacional, Plethico Pharmaceuticals, India
Keywords and Translated Subjects
Viajes Internacionales, Viagem Internacional

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