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Templeton Strategic buys 2.9 pc stake in Aurobindo Pharma

Our Bureau

Hyderabad , May 7

TEMPLETON Strategic Emerging Markets LDC has acquired 13,05,460 equity shares amounting to 2.9 per cent of the total paid-up capital of Aurobindo Pharma Ltd (APL).

The mode of acquisition of the shares was through the open market and was completed on a single day on April 30, 2004, Templeton Strategic informed the National Stock Exchange on Friday. The shareholding of Templeton Strategic Emerging Markets after this acquisition stands at 36,79,596 equity shares amounting to 7.9131 per cent of the total paid-up capital of APL.

The APL board had allotted one million equity shares and equal number of share warrants to Templeton Strategic in April 2002. In addition to Templeton Strategic, other major foreign institutional investors (FIIs) in APL are ABN Amro Funds and Copthall Mauritius Investment Ltd.

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