MUMBAI, FEBRUARY 21: The shares of pharmaceutical company, Wockhardt Limited, one of India's top pharmaceutical majors, were listed today on the Bombay Stock Exchange (BSE) in the 'A' group.The share opened at Rs 800, touching a high of Rs 1100 before closing at Rs 985.
Wockhardt Limited shares were allotted and listing formalities were completed last week. The company's shares were listed and traded on the BSE today.
Wockhardt had announced its de-merger last year in April, with a view to optimising the growth potentials of its businesses and created two different companies- Wockhardt Limited comprising the knowledge-based pharmaceutical business and Wockhardt Life Sciences Limited comprising IV fluids, agrisciences and hospitals.
All formalities of the de-merger process have been completed and the de-merger has been effective from January 1, 2000.
Wockhardt Life Sciences Limited has already been listed since January this year, in the B-1 category.
The two companies will have their own distinctive board of directors and both will be professionally managed, as per the corporate values and the aggressive growth strategies always practiced by the erstwhile single entity, which made it one of the more admired companies in India.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.