Jyothy makes open offer for Henkel India

30 Jul 2011

1

Jyothy Laboratories Ltd is making an open offer to equity holders of Henkekl India Ltd for acquisition of up to 23,292,895 equity shares of the company.

The offer will open on 2 August and close on 22 August against the earlier scheduled opening date of 24 June and closing date of 14 July, Mape Advisory Group Pvt Ltd, manager to the offer, said on Friday.

Jyothy Laboratories, which originally made the offer on 9 May 2011, had since revised the schedule twice (See: Jyothy launches open offer for Henkel India buyout).

Jyothy acquired a total of 46,34,953 equity shares of Henkel India from the open market. The open market purchases have been made in compliance with SEBI takeover regulations, at prices lower than the offer price, Jyothy said in a release.

As of date, Jyothy held 81,346,842 equity shares constituting 69.85 per cent of the equity share capital of Henkel India Ltd. Out of this, 59,360,203 equity shares have been transferred by Henkel AG & Co. KGaA and have been held in escrow from 31 May 2011, by Kotak Mahindra Bank Ltd.

These shares will be released to Jyothy only upon completion of the open offer formalities in accordance with the SEBI regulations.

The total shareholding of the acquirer in the company post offer, assuming full subscription to the offer, will be 104,639,737 equity shares constituting 89.85 per cent of the equity share capital of the Henkel India.

The other terms and conditions of the offer remain unchanged, the company said in its release.

Business History Videos

History of hovercraft Part 3 | Industry study | Business History

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2 | Industry study | Business History

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1 | Industry study | Business History

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | Industry study | Business History

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more
View details about the software product Informachine News Trackers