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Cipla spurts on making indicative proposal for acquiring 51% stake of Cipla Medpro, SA

21 Nov 2012 Evaluate

Cipla is currently trading at Rs 387.85, up by 8.05 points or 2.12% from its previous closing of Rs 379.80 on the BSE.

The scrip opened at Rs 381.65 and has touched a high and low of Rs 389.00 and Rs 381.30 respectively. So far 1105289 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 400.60 on 07-Nov-2012 and a 52 week low of Rs 286.50 on 26-Mar-2012.

Last one week high and low of the scrip stood at Rs 398.00 and Rs 377.40 respectively. The current market cap of the company is Rs 31217.58 crore.

The promoters holding in the company stood at 36.80% while Institutions and Non-Institutions held 34.15% and 28.75% respectively.

Cipla being in preliminary discussion, has made an indicative proposal for acquisition of 51% equity stake in Cipla Medpro South Africa, a company incorporated in the Republic of South Africa and listed on the JSE, for a price of South African Rand (ZAR) 8.55 per share (payable ex the final dividend for 2012 financial year, which will be capped at a maximum of ZAR 0.10 per share).

Further, based on Cipla Medpro South Africa current shares outstanding and spot ZAR/$ exchange rates, total consideration payable by the company would be approximately $220 million (Exclusive of the anticipated dividend of upto ZAR 0.10 per share to be paid by Cipla Medpro to its shareholders for the 2012 financial year). However, at this stage, there is no uncertainty that these discussions will lead to firm offer being made or a transaction being consummated.

Cipla focuses on development of new formulations and has a wide range of pharmaceutical products. It offers prescription drugs, bulk drugs, animal products and pesticides. It also offers a wide range of food and beverages, baked foods, oral hygiene products, detergents, room fresheners and personal care products.

Cipla Share Price

1238.30 7.55 (0.61%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Sun Pharma Inds. 1675.20
Dr. Reddys Lab 1235.40
Cipla 1238.30
Zydus Lifesciences 942.55
Lupin 2324.25
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