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The Singhs Rs 10,000 Crore Plan: Banking & Private Equity
Posted on June 18, 2008
The Singhs of Ranbaxy have thought up a few things to do with the Rs 10,000 crore they have got from the sale of their 34.8 per cent stake to Japan s Daiichi Sankyo. One is to get into fullscale banking, while the other is to get into private equity or both. The group s financial services business Religare Enterprises will look at inorganic or organic initiatives in banking, Malvinder Singh, MD and CEO of Ranbaxy Pharmaceuticals, told in two separate interviews to media (see ET and Mint).However, in a separate statement to Bombay Stock Exchange, Religare said that there is no concrete p...
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