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The open offer by GSK Pharma’s parent GSK Plc will commence on Friday. GSK Plc will acquire 24.3 per cent stake in its Indian subsidiary at a price of ₹3,100. Since the announcement in December 2013, the stock has gained over 22 per cent. This is despite sluggish financial performance in the last three years, marked by a near-15 percentage point slip in operating margin during this period. Following the sharp rally in the last two months, GSK Pharma is now the priciest stock in the pharma space, trading at 38 times its 2014 earnings.
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