Tata Sons Ltd on Friday confirmed that its decision to cancel its offer for sale (OFS) of shares in its subsidiary Tata Teleservices (Maharashtra) Ltd.
The OFS was announced on Wednesday, when Tata Sons said that it would sell a total of 51,623,679 shares, or 2.72 per cent of the equity capital of the Tata Teleservices (Maharashtra) Ltd, on May 17.
But, the company yesterday confirmed that it had cancelled the sale. In a filing to the Bombay Stock Exchange (BSE), the company said, "Tata Sons Limited has now informed BSE that they have decided to cancel the sale in full."
The prices of several life-saving medicines will soon fall by up to 80 per cent in India, thanks to the government's new drug price control order.
Issued by the union government, the long-pending drug price control order has paved the way for the implementation of pharmaceutical pricing control policy across the country. It is expected to reduce the prices of drugs on an average by 20-25 per cent, and some cancer drugs by up to 80 per cent.
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