Amrutanjan withdraws buy-back offer
July 15th, 2010 - 4:55 pm ICT by IANSChennai, July 15 (IANS) City-based Amrutanjan Healthcare has withdrawn its buy-back offer of equity shares.
In a filing with the stock exchanges Thursday, the Rs.3.03 crore equity-based company said that the market prices of its shares had increased over its offer price of Rs.550.
Currently, the Amrutanjan’s Rs.10 face value equity shares changes hands at over Rs.800.
The 115-year-old company’s board has decided to restructure the over-the-counter (OTC) and pharma business by floating two different companies.
Under the OTC segment, Amrutajan makes pain balms and cold rubs.
The Rs.89.76 crore turnover company also makes pharma products like herbal cough syrup, dermal ointment and capsule to control diabetes.
- Surya Pharma's arm acquires US's ActivOn for $22 mn - Dec 28, 2010
- Reliance Infra net profit rises 10 percent - Feb 14, 2011
- RIL profit falls 13.55 percent, to buy back shares - Jan 20, 2012
- Bids worth Rs.12,766.75 crore received for ONGC shares - Mar 02, 2012
- Reckitt Benckiser to acquire Paras Pharma for $728 mn - Dec 13, 2010
- Sensex rises 157 points; energy, metal stocks rally - Jan 27, 2012
- Sweet deal: EID Parry acquires balance stake in US firm - Oct 07, 2011
- Amrutanjan says promoters not exiting - Dec 14, 2010
- Indian drug major Sun Pharma takes control of Israeli Taro - Sep 22, 2010
- Orchid Pharma to invest Rs.200 crore in niche segment - Nov 04, 2010
- Government allows state-owned firms to buy back shares - Mar 01, 2012
- Court approves Essar bulk terminal's equity buyback offer - May 09, 2011
- Chennai's Shriram Housing aims big in this fiscal - Mar 30, 2012
- Sensex rises for fourth straight week; up 495 points (Weekly market review) - Jan 28, 2012
- Star Health says it is in good health despite business loss - Jan 05, 2012
Tags: amrutanjan, balms, cough syrup, diabetes, different companies, face value, otc segment, rs 800, rubs, s board, stock exchanges, turnover, value equity