Ranbaxy Laboratories' Warrants lapse

Ranbaxy Laboratories Ltd has now announced with reference to allotment of 23,834,333 Warrants on October 20, 2008 on preferential basis to Daiichi Sankyo Company, Limited (Daiichi Sankyo), each warrant exercisable into one Equity Share at a price of Rs. 737 per share at any time between 6 months to 18 months from the date of allotment of warrants and that the Company had received Rs. 73.70 per warrant from Daiichi Sankyo, being 10% of the exercise price, that Daiichi Sankyo has not opted to exercise aforesaid warrants into shares. Hence as per the terms of the issue, the said warrants stand lapsed and the amount of Rs. 73.70 per warrant aggregating Rs. 1756.59 millions paid by Daiichi Sankyo stand forfeited.

The stock was trading at Rs.443.50, down by Rs.2.50 or 0.56%. The stock hit an intraday high of Rs.452.35 and low of Rs.441.10.

The total traded quantity was 134061 compared to 2 week average of 102817.

Source : Equity Bulls

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