As per the pact between the two companies, the payment will be made by March 31, 2009.The bulk of the promoter group's shares in the Indian drug maker - amounting to 26.57 per cent - is held by Ranbaxy Holding Company. But that is an unlisted entity. Oscar Investments, incorporated in 1978, is a non-banking finance company that is registered with the Reserve Bank of India and listed on the and the .
A look at the financials of Oscar Investments reveals that the company is yet to publish its audited annual report for 2007-08. But, the earning per share, that sets the mood for the listed price, was Rs.63.77 and Rs.80.68 in the previous two years. On the other hand, given that Oscar has a floating stock of 17.28 million issued shares, the windfall on account of the acquisition deal with Daiichi Sankyo will be a whopping Rs.755 per share.
So if the same financials are maintained, the additional money coming in from the Japanese drug maker will translate into an enhanced earnings per share of Rs.827.23.
Oscar Investments has not declared any dividends for the past few years. But for 2008-09, they might do so in a bid to share some of the windfall gains from the sell-off.
Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.