Astrazeneca Pharma India falls; Sebi says exchanges to monitor delisting

Shares in Astrazeneca Pharma India Ltd fell 3 percent after the SEBI on Tuesday said stock exchanges will closely monitor the company's delisting process and promptly report any aberrations.

"The promoters of M/s Astrazeneca Pharma India Ltd. shall finally purchase shares from public shareholders in the delisting offer only after seeking approval of the Bombay Stock Exchange Limited and National Stock Exchange Limited," added the Securities and Exchange Board of India in an order.

The regulator also said it came across certain reports that the offer for sale (OFS) of the shares of Astrazeneca Pharma India Ltd carried out by its promoter AstraZeneca Pharmaceuticals AB Sweden on May 26, 2013 was a deliberate attempt to subsequently get the shares of the Indian unit delisted at ease.

It was also reported that more than 94 percent of total shares offered through OFS had been subscribed by six foreign institutional investors including DB International Asia Ltd, Suffolk (Mauritius), Morgan Stanley Asia (Singapore) PTE, BNP Paribas Arbitrage, Manfield (Mauritius) Ltd and Merrill Lynch Capital Markets Espana S.A. SVB.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Not the best gift for Modi, but bypoll result may not affect BJP in long run

    In India’s hardball political landscape, there is little place for anyone to rest on their laurels, not the least if you are a successful prime mini

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

M S Swaminathan

Scientific and field level know-how

Recently addressing the scientists of the Indian Council of Agricultural ...

Rajgopal Nidamboor

How synchronous empathy helps us

All of us are in an undulating ‘hypnotic’ state. A ...

Dharmendra Khandal

The peculiar possibilities of animal poop

You can tell a lot about an animal by its ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture