Jyothy Laboratories has completed acquisition of 5.94 crore shares aggregating to 50.97% stake in Henkel India (HIL). Following the acquisition, the company’s stake in Henkel India increased to 65.88%.
The company, which sells fabric wash brand Ujala, had earlier bought 14.9% stake in HIL from the Indian promoter Tamilnadu Petroproducts for around Rs 60 crore.
Following the acquisition of majority stake in HIL, Jyothy Lab has announced an open offer for another 20% at an estimated cost of around Rs 96 crore. The open offer to acquire up to 2.32 crore shares at Rs 41.20 per share would start on June 24 and end on July 14. If the 20% open offer is fully subscribed, Jyothy Laboratories will own 85.87% in Henkel India.
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 | 2287.90 |
| Godrej Consumer Prod | 1042.50 |
| Dabur India | 487.60 |
| Colgate Palmol. (I) | 2196.75 |
| P&G Hygiene | 9930.50 |
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