India’s largest pharmaceutical firm Ranbaxy Laboratories is planning to list its securities on a US stock exchange.The board of directors will meet on September 9 to discuss matters relating to listing of the securities at a stock exchange in the US, conversion of existing GDRs into ADRs and raising of resources through appropriate securities, Ranbaxy informed the Bombay Stock Exchange.Though the company has not spelt out details, the listing is likely to be on the New York Stock Exchange.With this, Ranbaxy will join a host of Indian firms who are now looking for listing in the US stock exchanges to increase their visibility in the international markets and raise forex. Hyderabad-based Dr Reddy’s Labs is already listed on the New York Exchange. ICICI Bank, HDFC Bank, MTNL and Wipro are some of the Indian firms listed on the NYSE.
