The announcement was made on Saturday, 8 December 2012.
Meanwhile, the BSE Sensex was up 19.55 points, or 0.10%, to 19,443.65.
On BSE, 23,000 shares were traded in the counter as against an average daily volume of 1.21 lakh shares in the past one quarter.
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The stock hit a high of Rs 392 and a low of Rs 387.05 so far during the day. The stock had hit a 52-week high of Rs 452.50 on 17 February 2012. The stock had hit a 52-week low of Rs 325.60 on 30 July 2012.
The stock had outperformed the market over the past one month till 7 December 2012, rising 3.28% compared with the Sensex's 2.76% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.48% as against Sensex's 9.84% rise.
The large-cap IT company has an equity capital of Rs 492.48 crore. Face value per share is Rs 2.
Revenues on run-rate basis for fiscal year ended March 2012 (FY'12) are about $68 million. This transaction will give Wipro, the leadership position in the facial skincare market in Malaysia and Singapore, expand its presence in China, besides enhancing its market position in other Asian markets.
L.D. Waxson Group, headquartered in Singapore, is a leading company with a wide portfolio of brands, including leading skin care brands Bio-essence and Ginvera, and health care brand Ebene. The company has manufacturing facilities in China and Malaysia and a strong footprint in Singapore, Malaysia , China, Taiwan, Hong Kong and Thailand. The transaction is expected to be closed within the next 60 days.
Commenting on the transaction, Mr. Vineet Agrawal, President, Wipro Consumer Care and Lighting, says: "We welcome LD. Waxson group to the Wipro family. We have a great track record of successful acquisitions including Unza and Yardley. We see L.D.Waxson as a good strategic fit. This transaction helps us consolidate our successful facial skincare business in Malaysia to a dominant leadership position, and moves us to market leadership in Singapore as well."
Commenting on the acquisition Dr. Tor Lam Huat, Chairman of L.D. Waxson Group says, "We are happy to join Wipro, a company that shares our passion in developing brands, driven by consumer insight and innovative marketing and have seen their success in this region. Bioessence's success is driven by providing skin care products that truly perform, with visible results for consumers. We are confident that with Wipro's marketing expertise and extensive distribution network, together we will be able take Bio-essence, Ginvera and other brands to new heights."
"This acquisition enables us to establish a significant presence in the China skin care market. It helps us to expand to Western and Eastern China markets, and enter the Taiwan market. It also makes us stronger in pharmacy channel in Malaysia." says Mr. Nagender Arya, Regional Director (East Asia, Middle East and Africa), Wipro Consumer Care and Lighting.
Wipro recently announced that its board at its meeting held on 1 November 2012, approved demerger of the Wipro Consumer Care & Lighting (including Furniture business), Wipro Infrastructure Engineering (Hydraulics & Water businesses), and Medical Diagnostic Product & Services business (through its strategic joint venture), into a separate company to be named Wipro Enterprises. Wipro will remain a publicly listed company that will focus exclusively on information technology. Wipro Enterprises will be an unlisted company.
Azim Premji will remain Executive Chairman of the Board of Wipro and will assume the position of Non-Executive Chairman of Wipro Enterprises.
Wipro Consumer Care and Lighting Group has a profitable presence in the branded retail market of toilet soaps, hair care soaps, baby care products and lighting products. Its brands include Santoor and Chandrika toilet soaps, Wipro Shikakai hair care soap, Santoor Talc, Wipro Baby Soft range of baby care products and Wipro Safewash liquid detergent. In the wellness segment, Wipro markets Glucovita Glucose powder and Sanjeevani Honey and Isabgol. In Lighting Wipro has a strong presence in commercial and institutional segment. In the domestic lighting segment Wipro has a complete range of bulbs, tube lights, compact florescent lamps and lighting accessories.
On a consolidated basis, Wipro's net profit rose 1.92% to Rs 1610.60 crore in Q2 September 2012 over Q1 June 2012. Total income from operations (net) was flat at Rs 10620.30 crore in the same period.
Wipro provides comprehensive IT solutions and services, including systems integration, Information Systems outsourcing, IT enabled services, package implementation, software application development and maintenance, and research and development services to corporations globally. Wipro has a strong presence in niche market segments of infrastructure engineering and consumer products & lighting.
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