Heranba Industries through its wholly owned subsidiary Mikusu India has entered into a definitive Share Purchase Agreement (SPA) for acquisition of 29,09,719 fully paid up equity shares of Rs 10 each, constituting 48.49% of the paid up equity share capital of M/s Daikaffil Chemicals India, from its Promoters and Other shareholders at a price of Rs 24 per equity share aggregating to Rs 6.98 crore.
The company is also making an open offer to the public equity shareholders of Daikaffil Chemicals India to acquire from them upto 26% of fully diluted outstanding equity share capital at a price of Rs 38.72 per share, under the relevant provisions of SEBI (Substantial Acquisition of shares and Takeovers) Regulations, 2011.
Heranba Industries is engaged in manufacturing process which mainly includes chemical reactions of ammonolysis, esterification, hydrolysis, condensation, favorski reaction, isomerisation, cyanation, friedel crafts, methoxylation, cyclisation and halogenation.
| Company Name | CMP |
|---|---|
| UPL | 665.00 |
| PI Industries | 3144.45 |
| Bayer CropScience | 4900.45 |
| Sharda Cropchem | 1109.70 |
| Sumitomo Chemical | 441.95 |
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