"There is no possibility for revising the open offer price," quoted the domestic news wire to the source.
Emami has picked up 24 per cent stake in Zandu at a price of Rs 6900 per share, including a non-compete fee of Rs 100 per share, from one of the promoter's family of the company.
This, along with the existing holding of Emami, has raised the firm's holding in Zandu to 27.5 per cent.
At the board meeting of Zandu held on Friday, the resolution pertaining to issue of preferential shares to the promoters had been dropped.
