Promoters and strategic investors in Aurobindo Pharma are set to pick up additional stakes in the company by way of preferential allotment. This follows the conversion of warrants at a price between Rs 216-226 a share.
The warrant conversion will take place on September 27, the company informed the Bombay Stock Exchange on Tuesday.
Following the acquisition of an additional 37,500 shares, P V Ramaprasad Reddy, chairman of Aurobindo Pharma, will own 27.70 per cent stake (64,41,324 shares) in the company.
The other acquirers include K Nityanands Reddy and M Sivakumaran. While K Nityanands Reddy will buy 8,500 equity shares through warrant conversion and his stake will rise to 7.78 per cent (18,09,735 shares), Sivakumaran