Pfizer Inc has stepped up its offer price to Rs 830 per share from its original price of Rs 675 per share on account of significant upward trends in market indices. Pfizer Inc. has decided to acquire additional stake of 33.77 per cent in Pfizer Ltd through an open offer from public shareholders. Pfizer Investments Netherlands B.V a wholly-owned subsidiary of Pfizer Inc will acquire shares through this open offer. The offer will close on Saturday, July 4, 2009. Currently the scrip is moving around Rs 820 on the BSE.

Successful completion of this offer, assuming full acceptance, would raise the indirect stake of Pfizer Inc in Pfizer Ltd to 75 per cent from the current level of 41.23 per cent. The offer will represent a total value of up to Rs 836 crore. The company has made a cash deposit of Rs 6.80 crore in an Escrow Account with the HongKong and Shanghai Banking Corporation Ltd, Mumbai. Pursuant to the upward revision in the Offer Price, the company has made an additional cash deposit of Rs 20 crore in the aforesaid Escrow account.