GSK to raise stake in Indian consumer products arm via open offer

Mon Nov 26, 2012 10:24am IST

A GlaxoSmithKline logo is seen outside one of its buildings in west London, February 6, 2008. REUTERS/Toby Melville

A GlaxoSmithKline logo is seen outside one of its buildings in west London, February 6, 2008.

Credit: Reuters/Toby Melville

Related Topics

Stocks

   
Rajalakshmi (C), 28, smiles after winning the Miss Wheelchair India beauty pageant in Mumbai November 26, 2014. REUTERS/Danish Siddiqui

Miss Wheelchair India

Seven women from across India participated in the country's second wheelchair beauty pageant, which aims to open doors for the wheelchair-bound in modelling, film and television, according to organisers  Slideshow 

(Reuters) - GlaxoSmithKline Plc plans to raise its stake in its Indian consumer products arm GlaxoSmithKline Consumer Healthcare Ltd to 75 percent from 43.16 percent through an open offer, the manager to the offer said on Monday.

GlaxoSmithKline Plc along with its units will buy up to 13.39 million shares, or 31.84 percent in GlaxoSmithKline Consumer Healthcare, at 3,900 rupees per share, said HSBC Securities, the manager to the offer, in a statement.

As per Indian regulations, promoters of stock exchange-listed companies can hold up to a maximum of 75 percent stake. If the promoter shareholding rises beyond 75 percent, then the company has to be de-listed from the bourses.

(Reporting by Kaustubh Kulkarni; Editing by Gopakumar Warrier)

FILED UNDER:

Ebola Outbreak

Reuters Showcase

Ebola Crisis

Ebola Crisis

U.N. to miss Dec 1 Ebola target due to rising Sierra Leone cases.  Full Article 

Tobacco Curbs

Tobacco Curbs

China considers tougher tobacco controls: Xinhua.  Full Article 

Reuters Exclusive

Reuters Exclusive

Pay per puff? Caffeine stick? E-cigarette boom sparks race for new patents  Full Article 

Healthy Diet

Healthy Diet

Studies examine U.S. meals in schools.  Full Article 

Fatal Accidents

Fatal Accidents

Helmets, engine size important in child deaths on ATVs.  Full Article 

Fertility Woes

Fertility Woes

Little understood chemicals cut men’s fertility.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage