The Hindu Business Line : Divi's Labs CMD to consolidate holding

THE Chairman and Managing Director of Divi's Laboratories Ltd (DLL) plans to further consolidate his personal equity holding in the company by acquiring holding from others in the promoters group.

Mr Murali K. Divi has informed the stock exchanges that he proposes to acquire 7-lakh equity shares of the company, aggregating to 5.46 per cent of the share capital, from Ms Nilima Divi. The CMD said the date of the proposed acquisition is March 9 and the mode is by way of gift.

Following the acquisition, the shareholding of Mr Murali would increase to 50.78-lakh shares aggregating to 39.62 per cent of the share capital of the company from the existing level of 34.16 per cent.

Among others in the promoters group, Ms Divi Swarna Latha would have 5.46 per cent, Mr Kiran S. Divi 5.46 per cent, while Divi's Biotech Pvt Ltd would have 3.12 per cent.

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