Henkel India mentioned Jyothy Laboratories has made a proposal to buy 20 per cent stake

Henkel India mentioned Jyothy Laboratories has made a proposal to buy 20 per cent stakeFMCG player Henkel India today mentioned Jyothy Laboratories has made a proposal to buy 20 per cent stake at the company from its shareholders at a cost of Rs 41.2 each stake aggregating to a total worth of Rs 95.9 cr

“This proposal is done for all share-holders of aim for firm [Henkel India] to obtain until 2,32,90,855, forming 20 % of emerging voting funds, in a cost of Rs 41.2,” Henkel India mentioned at a registering to the B S E

The open proposal, which is managed by Mape Advisory Group, would start on June 24 and closes on July 14, the firm mentioned.

Jyothy Laboratories that manufactures the ‘Ujala’ fabric rinse has recently announced which it would obtain 50.97 % share in HIL [Henkel India Ltd] from Germany based Henkel AG & Co for Rs 118.7 cr
Last 30 days, JLL had bought 14.9 per cent stake in HIL through the Indian promoter Tamilnadu Petroproducts Ltd.

If the 20 % open offer is fully subscribed, JLL will own 85.87 % in Henkel India.

Stocks of Henkel India closed at Rs 39.40 on BSE, high 0.85 % from the previous close. .

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