Jyothy Laboratories (JLL) has acquired 1.76% more stake in Henkel India through 2,044,214 equity shares of Rs 10 each, increasing its total shareholding in the company to over 71.60%. The company has acquired the stake from Tamil Nadu Petroproducts through an off market transaction at a price of Rs 35 per share. Post the acquisition of shares JLL has increased its stake in Henkel India (HIL) to 71.60% from 65.85%.
The price paid for the purchase was lesser than the average price of Rs 40.68 per share that the company had paid other shareholders in its recently concluded open offer. The company bought 14.9% stake in HIL from the Indian promoter Tamilnadu Petroproducts for around Rs 60 crore. Later, the firm bought 51% stake of Germany-based Henkel AG & Co in HIL for Rs 118.7 crore. After becoming a majority shareholder, JLL had launched an open offer on June 24 for buying another 20% stake in HIL, at an estimated cost of Rs 96 crore.
Jyothy Laboratories is engaged in manufacturing and marketing of products in fabric care, mosquito repellent, surface cleaning, personal care and incense sticks.
| Company Name | CMP |
|---|---|
| Hindustan Unilever | 2307.30 |
| Godrej Consumer Prod | 1010.55 |
| Dabur India | 473.35 |
| Colgate Palmol. (I) | 2137.15 |
| P&G Hygiene | 9889.10 |
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