AstraZeneca Pharma tanks on fixing OFS price at steep discount
The floor price at Rs 490 per share, is 39% discount to Monday's closing price of Rs 799 on BSE.
AstraZeneca Pharma India has dipped 14% to Rs 690 after its parent company has fixed the share sale price at Rs 490 per share. The floor price is 39% discount to Monday’s closing price of Rs 799 on BSE.
AstraZeneca Pharmaceuticals AB Sweden, the promoter of the company plans to offload around 3.75 million shares representing 15% of total equity of the company through offer-for-sale (OFS) today to meet Sebi norms on minimum public shareholding.
Currently, AstraZeneca Pharmaceuticals AB Sweden holds 90% stake in the Indian arm.
According to the Sebi norms all private sector companies need to have minimum 25% public shareholding by June 30.
AstraZeneca Pharmaceuticals AB Sweden, the promoter of the company plans to offload around 3.75 million shares representing 15% of total equity of the company through offer-for-sale (OFS) today to meet Sebi norms on minimum public shareholding.
Currently, AstraZeneca Pharmaceuticals AB Sweden holds 90% stake in the Indian arm.
According to the Sebi norms all private sector companies need to have minimum 25% public shareholding by June 30.
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First Published: May 28 2013 | 9:20 AM IST