Morepen Laboratories Limited

The media had reports on September 3, 2007 that US based Avenue Capital may pick up 15% stake in Morepen Laboratories Ltd.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.


Morepen Laboratories Ltd. has vide its letter inter-alia stated, "The Company has been in negotiations with an Investor for the investment in the Company and is in the advanced stages for concluding the transaction subject to the Board approval. Further, the investment shall be made at a price not lower that the price as determined in accordance with the SEBI (DIP) Guidelines."