Ranbaxy Laboratories

Payment for Ranbaxy.

Posted by : bullish9000

hello sir,
thanks for the valuable information but what is the source of information . i mean to say economic times ,CNBC, or NDTV profit.
pls clarify
regards

Accumulate Ranbaxy - victim of MNC Cartel

Posted by : WBuffetBlog

psgs,

not all MNCs, there are some MNC`s which are falling also..like SKF India, Goodyear, Timken etc.

Those stocks which have not participated in bull run, & investors were cursing them have not fallen much, because they are value stocks. Basically they are cash rich, zero debt, high dividend paying companies. They are all time fancied stocks. So we have look for bargain hunting in these stocks.

Accumulate Ranbaxy - victim of MNC Cartel

Posted by : psgs

hi, did u notice one point. all the mnc stocks are outperforming. only indian companies are crashing. why so? any clue?

Payment for Ranbaxy.

Posted by : mehtabrijesh

NEW DELHI: Daiichi Sankyo is all set to close the .6-bn acquisition of the country’s largest drugmaker Ranbaxy Laboratories. Payment to shareholde
rs, who sold the company’s shares to Daiichi through its open offer, is expected to begin on Tuesday.

This will be followed by the promoters selling their 34.8% stake to the Japanese company. The final step in the transaction will be Daiichi Sankyo’s subscription of preferential shares and warrants.

The Reserve Bank earlier this week gave permission to Daiichi Sankyo to bring money into the country and it is learnt that the process of fund transfer into India has already begun.

Ranbaxy shares rose 4.7% to Rs 293.25 on BSE on Friday even as the Sensex fell 800 points. Following the company’s troubles in the US, there was speculation that Daiichi Sankyo might withdraw or renegotiate the price of the takeover.

However, Daiichi Sankyo CEO Takashi Shoda on Thursday said the share price agreement of Rs 737 per share was fixed and the company was going ahead with the transaction.

While a CLSA report says that the acquisition of the promoters’ stake is expected to take place towards November end, sources say Ranbaxy promoters may sell their stake in the next few weeks.

The June 11 deal allows promoters to complete the transaction till March 2009. But with the markets crashing and constant flow of bad news from the US it is expected that promoters would want to offload their shares at the earliest.

Last week, the government had cleared the deal and RBI’s approval was the last regulatory process for the Japanese company to complete the takeover.

In June, Daiichi Sankyo had agreed to acquire the promoters’ entire 34.8% stake in Ranbaxy at Rs 737 per share, a 31.4% premium over the then share price of Ranbaxy. Daiichi Sankyo subsequently made the mandatory open offer to acquire 9.25 crore or 20% stake in the company at Rs 737 each.

Ranbaxy has also agreed to issue preferential allotment and warrants amounting to 9.5% and 4.9% stake, respectively, to the Japanese company.

Last month, ICICI Securities, the manager for the mandatory 20% share buyback from public shareholders, had informed BSE that its open offer for 20% stake has been over subscribed.

However, it was delaying the payment to shareholders as it was yet to get regulatory nod. Daiichi Sankyo will also pay interest to shareholders for procedural delays.

Thanks,
Brijesh

ranbaxy buy back

Posted by : Guest

Hi, Anyone has idea when we will get our money for buy back ? Don`t you think it`s too late ? Are they want ot pay us or no ? how they are going to pay, with chaque or directly to ECS.

Accumulate Ranbaxy - victim of MNC Cartel

Posted by : WBuffetBlog

psgs,

I am accumulating those stocks which I missed in the last bull run. I knew market will fall anyday, then waiting to pick up.Now I am picking small lots with provision to add more if market goes down further. the criteria now is to choose the stocks avilable to their below book values & dividend yields.

Be prepared the markets will remain hazy atleast for a year. And India specific news is that Feb 2009, Lok Sabha Elections, then the new government, then who will be FM? The new FM may take the markets back to 5K levels?? Who knows. Chiddu took to 21K, new FM may take it to 5K, again next term Chiddu will be FM, makts will touch 50K...LoL

Some one close to me recently wished for a long life on my bday...so I told the person that wish me to live longer till I see sensex at 50K.

Return of Money by Karvy

Posted by : Guest

hi
how much will be the interest?

Ali

Return of Money by Karvy

Posted by : Guest

Daichhi is also liable to pay interest after 23rd September 2008. So let them delay the payment and we get 737 + interest also.

Rec. RBI Approval

Posted by : mantech

Payments will be sent by Karvy and not Icici Securities. Cheques would be despatched over the week-end as there was delay in approval from RBI and holiday on 9th Oct. Payment will not be credited by ECS that is what Karvy office at Hyderabad informed.

Rec. RBI Approval

Posted by : mantech

Payments will be sent by Karvy and not Icici Securities. Cheques would be despatched over the week-end as there was delay in approval from RBI and holiday on 9th Oct. Payment will not be credited by ECS that is what Karvy office at Hyderabad informed.

Rec. RBI Approval

Posted by : mehtabrijesh

From ICICI SEC. Mumbai

Rec. RBI Approval

Posted by : bullish9000

from where did u got this message......

is it karvy or what