The Singh family sold their 22 per cent holding to the Japanese firm, besides issuing 4.62 crore shares on preferential basis. Daichii Sankyo has already acquired 20 per cent stake in the Gurgaon-based firm, and with today's acquisitions, Ranbaxy has become a subsidiary of the Japanese firm, which would now control 52.5 per cent in the domestic pharma major.
Japanese drug maker Daichii Sankyo, which has signed a share purchase agreement with Ranbaxy, on Thursday said its open offer for an additional 20 per cent stake in the domestic pharma major would undergo a change of schedule, pursuant to a delay in Sebi's approval.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
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