The board of Ipca Laboratories has appointed Pranay Godha, son of Premchand Godha, managing director, who is currently president - APIs and generics of the company as additional director designated as whole-time executive director.
The board has approved tha allotment of 57,000 options to selected permanent employees of the company under Ipca Laboratories - ESOS. Each option granted gives a right but not an obligation to the option grantee to apply for 1 fully paid equity share of Rs 10 each of the company at a price of Rs 315 per share over a period of 4 years.
The board has approved buy back of company's own fully paid-up equity shares of Rs 10 each from the open market using electronic trading facilities of the Stock Exchanges with outlay of maximum amount of Rs 60 crore representing less than 10% of the company's paid-up equity share capital and free resources at a maximum price of not over Rs 600 per share, subject to necessary consents and applicable statutory provisions.
This was approved at the committee meeting held on 11 November 2008.
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