Henkel Spic rights oversubscribed
Chennai: The rights issue of Henkel Spic India has been over-subscribed 1.13 times. Germany's Henkel has received the approval of the Foreign Investment Promotion Board to increase its holding in this venture to 70 per cent. The German company has also applied for additional shares.

Henkel holds 46.77 per cent of the company's equity, the Tamil Nadu Petro Products 17.5 per cent, and IFC 7.29 per cent. About 25.8 per cent is with the public.
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