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Kolkata, Sept. 15 Emami Ltd. has more than doubled the open offer price for Zandu Pharmaceutical Works to Rs 15,000 from Rs 7,315 earlier in June.

“We have always kept the interest of the minority shareholders in mind and thus decided to come up with a revised offer in the wake of prevailing market trends. This is an excellent opportunity for the shareholders to realise the best value for their shares,” Mr Harsh V Agarwal, Director, Emami Group, said in a company note.

Emami currently holds a total of 27.5 per cent in Zandu, by virtue of its earlier holdings in the company. The open offer for 20 per cent stake, if responded to by the minority shareholders significantly, could make it easier for Emami to gain management control of Zandu, market sources said. Anand Rathi Financial Services is the manager to the offer.

More Stories on : Healthcare Products | Open Offers

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