Sun Pharma to increase stake in Ranbaxy Malaysia to 79.5%

New Delhi: Drug major Sun Pharmaceutical Industries on Thursday said it will increase stake in its subsidiary Ranbaxy Malaysia Sdn Bhd to 79.5 per cent through purchase of shares.

One of the wholly owned subsidiaries of the company has agreed to increase its shareholding in Ranbaxy Malaysia Sdn Bhd by 8.3 per cent by way of purchase of around 6.66 lakh shares, Sun Pharma said in a filing to the BSE.

Ranbaxy Malaysia Sdn Bhd, is a subsidiary of Sun Pharma, and the company along with one of its wholly owned arms has 71.2 per cent shares prior to the acquisition, it added.

The share purchase will be for a cash consideration of MYR 2,861,365.65, Sun Pharma said.

Shares of Sun Pharmaceutical Industries on Thursday closed at Rs 539.40 per scrip on BSE, up 2.59 per cent from its previous close.