Wockhardt’s promoter has bought 4.323 crore non-convertible preference shares and 1.853 crore optionally convertible preference shares for Rs 36 crore. The conversion price and ratio of the optionally convertible preference shares will be worked out later as it is not possible to determine the number of shares to be allotted post-conversion. Promoter holding in the firm stood 74.28%.
Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
