Matrix Laboratories, a subsidiary of Mylan, has decided to acquire remaining 24.77 per cent equity stake at an indicative price of up to Rs 150 per share from public and delist its shares from BSE and NSE.

Mylan's subsidiary MP Laboratories (Mauritius) Ltd is making the delisting offer in order to enhance the flexibility of Mylan in managing its global technical and commercial operations platform and to provide an exit opportunity to the public shareholders. The reverse book building process will commenced from May 25, 2009 and will close on May 29.

At present Mylan is holding 71.16 per cent and N Prasad is holding 4.97 per cent of the share capital. The foreign institutional investors are holding 15.73 per cent, individuals 7.03 per cent and others 1.11 per cent.

Citigroup Global Markets India Pvt Ltd is the manager to the offer and Link Intime is registrar to the offer.