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Novartis India’s promoters to slash shareholding in company

28 Mar 2013 Evaluate

Novartis India’s promoters Novartis AG, Basel is planning to slash its shareholding in the company through Stock Exchange mechanism. Through this initiative, the company will be able to comply with the minimum public shareholding requirement as prescribed under Securities Contract (Regulation) Rules and Clause 40A of the Listing Agreement.

Novartis India is engaged in manufacturing and marketing of drugs, pharmaceutical products and formulations for consumer healthcare and animal healthcare.

Peers
Company Name CMP
Redington 356.35
Adani Enterprises 2731.05
Amrapali Industries 34.31
Maxgrow India 175.85
Rashi Peripheral 864.95
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