According to Rajesh Aggarwal, Managing Director of IIL, 30 per cent of their product portfolio will have immediate price hike.
"The hike would be in the range of 10 to 15 per cent. We will implement it from the first week of January," Aggarwal told reporters in a press conference here.
The rupee downfall against world currencies added fuel to the fire, he added.
IIL's product prices range from a minimum of Rs 125 a litre to a maximum of Rs 6,000 a kg for new generation products, with the average price tag being Rs 300 a kg, he said.
Aggarwal said IIL's joint venture with Japanese research firm Otsuka for R & D may file four/five patents next year, while the commercial launch of the products will take some more time.