Vivimed Labs has successfully completed the buyback of its foreign currency convertible bonds (FCCBs) of USD 15.0 million issued in April 2007, maturing for redemption in April 2012.

The bonds are convertible into shares at a price determined as per terms of offer subject to floor price of Rs 185 per share. Of the total issue, bonds worth USD 12.5 million were bought back and bondholders opted for conversion of balance bonds worth USD 2.5 million into shares.

Shares of the company gained Rs 4.45, or 4.97%, to trade at Rs 93.95. The total volume of shares traded was 12,844 at the BSE (12.14 p.m., Wednesday).