Focus on Zenotech Labs now, post Ranbaxy open offer

630 Investors following Zenotech Labs. Share this News with them.

0

Like this story, share it with millions of investors on M3

Focus on Zenotech Labs now, post Ranbaxy open offer

Now that the Ranbaxy open offer has gone through, the focus may shift to other Ranbaxy-owned company Zenotech Laboratories. Daiichi Sankyo has to make an open offer to Zenotech Lab. Daiichi Sankyo has already received the Foreign Investment Promotion Board, or FIPB approval to invest in Zenotech.

Post your opinion here

 

0

Tweet

Share on Tumblr

By Varinder Bansal , CNBC-TV18

Now that the Ranbaxy open offer has gone through, the focus may shift to other Ranbaxy-owned company Zenotech Laboratories.

Daiichi Sankyo has to make an open offer to Zenotech Labs. Daiichi Sankyo has already received the Foreign Investment Promotion Board, or FIPB approval to invest in Zenotech. Daiichi would buy 34.8% stake in Ranbaxy and follow it with 20% open offer. Ranbaxy holds 46.95% in Zenotech. Zenotech Laboratories' core promoters including Ranbaxy hold about 57.11% in the company, while the public holds 42.89% in the company.

In October 2007, Ranbaxy bought a stake in Zenotech at Rs 160 per share. Ranbaxy increased its stake from 7% to 45% at Rs 160 per share aggregating to Rs 214 crore. The company's open offer opened in November 19 and closed on December 8. It's highest of two-week and six months is Rs 115.