The stock has rallied nearly 20% to Rs 2,952 in early morning deals on the BSE.
Shares of GlaxoSmithKline Pharmaceuticals has surged nearly 20% at Rs 2,952 in early morning deals on the BSE after its parent company GlaxoSmithKline plc announced a voluntary open offer to increase its stake in its Indian arm, from 50.7% to up to 75% at a price of Rs 3,100 per share.
“GlaxoSmithKline plc made an open offer for acquisition of 20.61 million shares representing 24.33% of the total voting share capital from the public shareholders of GlaxoSmithKline Pharmaceuticals,” the company said in a BSE filing.
The stock opened at Rs 2,950 and touched a low of Rs 2,900 on the BSE. A combined around 190,000 shares have changed hands on the counter so far on the BSE and NSE.
“GlaxoSmithKline plc made an open offer for acquisition of 20.61 million shares representing 24.33% of the total voting share capital from the public shareholders of GlaxoSmithKline Pharmaceuticals,” the company said in a BSE filing.
The stock opened at Rs 2,950 and touched a low of Rs 2,900 on the BSE. A combined around 190,000 shares have changed hands on the counter so far on the BSE and NSE.
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