Ranbaxy Lab revises open offer for Zenotech's shareholders
Ranbaxy revises the schedule of its open offer to the shareholders of Zenotech Laboratories Ltd to acquire 68.93 lakh fully paid-up equity shares.
By PTI |
MUMBAI: Drug manufacturer Ranbaxy Laboratories Ltd on Tuesday revised the schedule of its open offer to the shareholders of Zenotech Laboratories Ltd to acquire 68.93 lakh fully paid-up equity shares, representing 20 per cent of the expanded equity capital at a price of Rs 160.
The open offer for the shareholders of Zenotech Laboratories would now commence from December 24 and close on January 15 while the specified date remains unchanged at October 26, Ranbaxy said in a filing to the Bombay Stock Exchange.
Earlier, the offer was supposed to open on November 19 while it was scheduled to close on December 8, it said.
The company would pay Rs 160 (including a premium of Rs 150) in cash for each fully paid-up equity share of Zenotech in accordance with the SEBI Regulations, it said.
Rabo India Securities Pvt Ltd, manager to the offer, has issued this corrigendum to the public announcement on behalf of Ranbaxy to the equity shareholders of Zenotech Laboratories Ltd, which is in continuation of and should be read in conjunction with the PA dated October 5, and the corrigendum to the PA issued on November 28, it said.
The shares of Ranbaxy closed 1.05 per cent up at Rs 410 while those of Zenotech Lab closed marginally down at Rs 157.95 on the BSE.
The open offer for the shareholders of Zenotech Laboratories would now commence from December 24 and close on January 15 while the specified date remains unchanged at October 26, Ranbaxy said in a filing to the Bombay Stock Exchange.
Earlier, the offer was supposed to open on November 19 while it was scheduled to close on December 8, it said.
The company would pay Rs 160 (including a premium of Rs 150) in cash for each fully paid-up equity share of Zenotech in accordance with the SEBI Regulations, it said.
Rabo India Securities Pvt Ltd, manager to the offer, has issued this corrigendum to the public announcement on behalf of Ranbaxy to the equity shareholders of Zenotech Laboratories Ltd, which is in continuation of and should be read in conjunction with the PA dated October 5, and the corrigendum to the PA issued on November 28, it said.
The shares of Ranbaxy closed 1.05 per cent up at Rs 410 while those of Zenotech Lab closed marginally down at Rs 157.95 on the BSE.
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