The announcement was made after market hours yesterday, 22 December 2014.

Meanwhile, the S&P BSE Sensex was up 96.07 points or 0.35% at 27,797.86.

On BSE, so far 1.49 lakh shares were traded in the counter as against average daily volume of 2.93 lakh shares in the past one quarter.

The stock hit a high of Rs 65.40 and a low of Rs 64 so far during the day. The stock had hit a 52-week high of Rs 85.35 on 15 July 2014. The stock had hit a 52-week low of Rs 42.25 on 11 February 2014.

The stock had underperformed the market over the past one month till 22 December 2014, declining 13.8% compared with the Sensex's 2.23% fall. The scrip had, however, outperformed the market in past one quarter, sliding 16.15% as against Sensex's 1.82% rise.

The small-cap company has equity capital of Rs 70.45 crore. Face value per share is Rs 10.

Orchid Chemicals & Pharmaceuticals said that the Allotment Committee of the Board of Directors at their meeting held yesterday, 22 December 2014, allotted 1.48 crore equity shares of Rs 10 each at Rs 49.79 per share (including a premium of Rs 39.79 per share) as the first tranche to the promoter group company Orchid Healthcare on preferential basis as per the Corporate Debt Restructuring (CDR) Scheme approved by the CDR Empowered Group in terms of CDR Scheme.

Orchid Chemicals & Pharmaceuticals reported a net profit of Rs 271.94 crore in the quarter ended 30 September 2014 compared with net loss of Rs 200.35 crore in the quarter ended 30 September 2013. Net sales declined 53.7% to Rs 174.81 crore in the quarter ended 30 September 2014 over the quarter ended 30 September 2013.

Orchid Chemicals & Pharmaceuticals is involved in the development, manufacture and marketing of diverse bulk activities, formulations and nutraceuticals.