India, Sept. 29 -- Welcure Drugs & Pharmaceuticals on Monday said its board has reviewed Singapore-based Telexcell Trade Pte Ltd's proposal to acquire up to 25 per cent stake in the company at Rs 20 per share but has firmly ruled out granting any management control.
The company stated that while Telexcell's offer underscores confidence in Welcure's intrinsic value, its initial request for influence over management and decision-making has been unanimously rejected. The board clarified Telexcell would be welcomed strictly as a financial investor without control rights.
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