GE Chem to take 25% stake in Daikaffil Chemicals

Luxembourg-based GE Chemical Company will acquire 25.1% stake in Daikaffil Chemicals India for Rs 2.63 crore.

According to an official release issued by Daikaffil to the BSE today, the board of the company has decided to offer and issue 17.59 lakh equity shares representing 25.10% stake in the company to GE Chemical, by way of preferential allotment at a price of Rs 15 per share, including a premium of Rs 5 per share.

The acquisition of the stake would help Daikaffil Chemicals India expand the capacities of its existing product line - optical brighteners for global and local markets as well as to give technology to manufacture speciality chemicals and key textile auxiliaries for textiles industries.