FMCG player Henkel India today said Jyothy Laboratories has made an offer to buy 20% stake in the company from its shareholders at a price of Rs 41.2 per share, aggregating to a total value of Rs 95.9 crore.
"This offer is made to all shareholders of target company (Henkel India)... To acquire up to 2,32,90,855, forming 20% of emerging voting capital, at a price of Rs 41.2," Henkel India said in a filing to the Bombay Stock Exchange.
The open offer, which is managed by Mape Advisory Group, would start on June 24 and ends on July 14, the firm said.
Jyothy Laboratories that makes the 'Ujala' fabric wash has recently announced that it would acquire 50.97% stake in Henkel India Ltd (HIL) from Germany-based Henkel AG & Co for Rs 118.7 crore.
Last month, JLL had bought 14.9% stake in HIL from the Indian promoter Tamilnadu Petroproducts Ltd.
If the 20% open offer is fully subscribed, JLL will own 85.87% in Henkel India.
Shares of Henkel India closed at Rs 39.40 on BSE, up 0.85% from the previous close.