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Orchid Pharma is currently trading at Rs. 401.00, up by 6.80 points or 1.73% from its previous closing of Rs. 394.20 on the BSE.

The scrip opened at Rs. 398.00 and has touched a high and low of Rs. 407.25 and Rs. 396.00 respectively. So far 1898 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.05 on 12-Jan-2022 and a 52 week low of Rs. 260.20 on 25-Feb-2022.

Last one week high and low of the scrip stood at Rs. 410.00 and Rs. 386.50 respectively. The current market cap of the company is Rs. 1660.21 crore.

The promoters holding in the company stood at 89.96%, while Institutions and Non-Institutions held 4.35% and 5.68% respectively.

Orchid Pharma has received approval from board of directors to raise Rs 500 crore through Qualified Institutional Placement (QIP), subject to approval of the shareholders. Edelweiss Financial Services and JM Financial are the investment banks handling the share sale.

Post a successful turnaround of the Insolvency Bankruptcy Code case, the Company has been on a growth spree. On back of a robust product launch pipeline and an agile management team, the Company is poised to become an even stronger player in the Cephalosporin Antibiotics space. With this QIP placement, the Dhanuka group, which took over the Company in 2018, is also meeting its mandatory obligation to dilute 15 percent stake in the Company by March 2023.

Orchid Pharma, established as an export-oriented unit (EOU), is a vertically integrated company spanning the entire pharmaceutical value chain from discovery to delivery with established credentials in research, manufacturing and marketing.