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FDC denies reports of stake sale
"The Chandavarkar family which is promoters of pharma firm FDC, plan to sell their 67% stake in the company. Buyout fund Carlyle had shown interest in buying the company and had even valued it at about Rs3,800 crore. But it is not known if a transaction will take place with the private equity fund," a media reported had stated.
"With reference to the news item appearing in a leading financial daily titled "Pharma Back on M&A Street, FDC Owners in Talks to Exit", FDC Ltd has clarified to BSE that the above news is completely false and baseless," FDC has clarified in statement to the exchange.
The FDC stock was last traded at Rs 97 on the National Stock Exchange, after hitting a 52-week high of Rs 105 earlier in the day.
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