At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
Ranbaxy, which is 63.5 per cent-owned by Japan's Daiichi Sankyo Co and gets more than 40 per cent of its sales from the United States, did not immediately respond to a request on Wednesday for comment on the FDA observations.
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
Acquisition to boost its generics business in developed markets.
The deal underscores a growing trend of consolidation in Asia's wealth management industry.
Would-be investors such as KKR, the Blackstone Group and Macquarie Group are looking at buying into completed projects.
Piramal owns an 11 per cent stake in Vodafone India.
Authorities claimed that a share sale by the company to its overseas parent in 2009 was undervalued by about Rs 15,200 crore.
The planned fund could help New Delhi raise between $1 billion and $2 billion.
The deal would be the biggest private equity transaction in India after Bain Capital paid about $1 billion to buy a 30 percent stake in business process and technology services provider Genpact.
The buyer received poor investor response to the pricing of the share sale.
Authorities are checking deals involving more than three dozen companies.
Wants to jointly develop the office space at Bandra-Kulra Complex.
Lafarge is in a drive to shed non-core assets to cut its debt to below 10 billion euros from 12.2 billion euros.
Investors including units of Morgan Stanley and Citigroup have agreed to buy 28.3 million shares of Bharti Infratel at Rs 230 apiece.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
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