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This is an archive article published on April 25, 2012

Ranbaxy not to delist: Chairman

Ranbaxy said it has no plans to delist from Indian bourses and it will remain a listed co.

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Ranbaxy Laboratories today said the company has no plans to delist from Indian bourses and it will remain a listed company.

“We have no intention to delist. Ranbaxy is an Indian diamond and will remain so,” Ranbaxy chairman Tsutomu Une told reporters when asked if the company had any plans to delist.

Daiichi Sankyo of Japan has a 63.67 per cent stake in the Indian drug manufacturer after it acquired the company in 2008 for Rs 22,000 crore from promoters led by Malvinder Singh.

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FIIs hold 9.56 per cent of the company’s share while domestic institutions have a 10.91 per cent stake,leaving a public holding of 15.86 per cent.

The company is listed on the National and Bombay Stock Exchanges .

Its share price closed at Rs 515 on the Bombay Stock Exchange,down 1.8 per cent from its previous close.

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