State-owned LIC has cut its stake in Ranbaxy Laboratories by selling more than 2% stake over the past five years. The country’s largest insurer offloaded 45,08,036 shares of Ranbaxy between October 15, 2008 and December 20, 2013 through open markets.
Following the stake sale, LIC’s stake in the company has come down to 6.13% from 8.15%.
During the period from October 15, 2008 and December 20, 2013, Ranbaxy was taken over by Japan’s Daiichi Sankyo. The company was also in various regulatory troubles during this period.
Ranbaxy Laboratories, India’s largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
Following the stake sale, LIC’s stake in the company has come down to 6.13% from 8.15%.
During the period from October 15, 2008 and December 20, 2013, Ranbaxy was taken over by Japan’s Daiichi Sankyo. The company was also in various regulatory troubles during this period.
Ranbaxy Laboratories, India’s largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
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