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11 December, 2018 19:08 IST
Sun Pharma to hike stake in Ranbaxy Malaysia to 79.5%
Source: IRIS | 13 Oct, 2017, 09.53AM
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Sun Pharmaceutical Industries' one of the wholly owned subsidiaries (collectively Sun Pharma) has agreed to increase its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of purchase of 666,985 shares of face value of MYR 1.00 each (equivalent to 8.3%) of Ranbaxy Malaysia Sdn Bhd.

Ranbaxy Malaysia Sdn Bhd. is a subsidiary of the company, and the total shareholding of Sun Pharmaceutical (Q,N,C,F)* Industries, along with its wholly owned subsidiary is 71.2%, prior to this proposed purchase of shares.

Post completion of this purchase of shares, the total holding of the company along with its wholly owned subsidiary will increase from 71.2% to 79.5% in Ranbaxy Malaysia Sdn Bhd.

Shares of the company declined Rs 1.7, or 0.32%, to trade at Rs 537.70. The total volume of shares traded was 34,613 at the BSE (9.42 a.m., Friday).

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