One of the key objectives behind this merger was to accelerate growth & create value for the stakeholders.
In the 90s, Sun Pharmaceuticals was a rising star. Other pharmaceutical majors Ranbaxy and Dr Reddy's looked at its growth with interest. Three decades later Dilip Shanghvi bought over Ranbaxy from Japan's Daiichi-Sankyo to chart his company's growth curve. In a move to become world's fifth largest generics (or off-patent) drugs company by revenue and India's largest pharma firm by market share, Sun Pharmaceutical Industries Ltd (“Sun Pharma”) announced the acquisition of Ranbaxy Laboratories Ltd (“Ranbaxy”) in April 2014.
However, legacy issues with Ranbaxy and reports of a complaint by a whistleblower to the Securities and Exchange Board of India (SEBI) against Sun Pharma raising issues of corporate governance has put Sanghvi into a tough quagmire. The whistle blower's complaint, on transactions worth over Rs 5,800 crore between 2014-2017, alleges that Indian drugs manufacturer Aditya Medisales Ltd had transactions with Suraksha Realty, controlled by Sun Pharma's co-promoter, Sudhir Valia. The whistleblower has alleged numerous irregularities against Sun Pharma promoter Dilip Shanghvi, his brother-in-law Sudhir Valia and Dharmesh Doshi, an associate of the 2001 stock market scam convict Ketan Parekh. All these have put pressure on Sun Pharma and shareholders and the company now needs to look at a quick turnaround.
Ranbaxy Laboratories Limited,
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Raymond Group continues Segregation of its Business Verticals
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Ultratech Cements adds India Cement in its shopping cart
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Arvind Group separates its Advanced Material Business for independent growth trajectory
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Merger for bail-out from debt obligation
Ind Swift Limited (herein after also referred to as 'ISL' or 'Transferor Company') is engaged in the business of manufacturing of Pharmaceutical Products.
Batliboi Ltd. merging its associate company
Batliboi Limited has a history of collaborations with various foreign technical partners and has subsidiaries like Hydraulic & General Engineers Ltd. and Batliboi International Ltd. In March 2024, the board of Directors of Batliboi Limited accorded their approval for the merger of promoter owned private company with itself.
TVS Motors issuances of convertible preference shares as bonus instead of dividend
Recently, well known auto manufacturer announced the issuance of preference shares as a bonus to all equity shareholders.
Aditya Birla Fashion & Retails Scheme to undo its consolidation
Corporate restructuring saga continues for Aditya Birla Group.
Advent International to combine its listed & private entity business
Recently, Advent International announced the merger of its privately held pharma company into recently acquired listed pharma company.
