M/s GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 percent shares in existing Indian subsidiary company of GSK Group in India

The Cabinet Committee on Economic Affairs has approved the proposal of M/s GlaxoSmithKline Pte Limited, Singapore for acquisition of 24.33 percent of shares in the existing Indian subsidiary company of the GSK Group in India by way of a voluntary open offer under SEBI (SAST Regulations) in the pharmaceutical sector.

The approval would result in foreign investment of approximately Rs. 6390 crore in the country.