Ajanta Pharma promoters to connect shareholding for improved visibility

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New Delhi: Ajanta Pharma’s promoters have concluded to connect their shareholding in a hands of 7 family members and one family-controlled upholder organisation entity in sequence to give improved prominence to a investors.

The company’s promoters — a Agrawal family now binds 73.78 percent interest in a organisation by 12 family members, 3 HUFs and dual family tranquil upholder group entities.

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“The promoters have sensitive a association that with a perspective to facilitate their shareholding in a organisation as also to give improved prominence to a investors, they have motionless to inter-se send shares among them as a partial of family arrangement concluded among family members,” Ajanta Pharma pronounced in a regulatory filing.

Accordingly a promoters will connect their shareholding in a hands of 7 particular family members and one family tranquil upholder organisation entity all of whom currently are partial of a upholder group, it added.

The converging is approaching to be finished within 60 days of this proclamation for that a promoters shall take compulsory stairs and shall make disclosures as compulsory underneath germane regulations, a association said.

“Pursuant to this arrangement there will be no change in a accumulative upholder group’s shareholding of 73.78 percent in a company,” it added.

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The Mumbai-based association has participation in several markets including Asia, Africa and a US. Its branded generics business is widespread in India and some-more than 30 emerging countries opposite Africa, CIS, a Middle East and South East Asia.

In India it has participation in segments like cardiology, dermatology, ophthalmology and pain management.

In a apart filing a association pronounced it has perceived capitulation from a US health regulator to marketplace the Aripiprazole tablets, an antipsychotic medication, in the American market.

Ajanta Pharma shares currently finished 1.07 per cent adult during Rs 1,928.35 every on BSE.

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