Promoter partners investor for majority in Camlin Fine

Camlin Fine Sciences (CFS) currently has a promoter group shareholding of only 17.55%. Balance 38.73% is owned by institutions and remaining 43.72% by public.

  • Of 17.55% promoter, 8.66% is owned by Ashish Dandekar
  • Of 38.73% institutional, 21.1% is owned by Mauritius based long term investor Infinity Group.

Both of them have decided to join together pooling off their shareholding and voting rights for a greater focus and control on the business. Infinity Group will be reclassified as the Promoter of CFS.

The current combined shareholding therefore becomes 29.76%, triggering the need for the open offer.

Open offer to acquire additional 26% has been announced (by the newly combined group).

  • Offer price has been fixed at Rs 160/ share entailing a maximum outlay of Rs 713 cr.
  • It is similar to the prevailing market price of the shares. (Rs 152 was the previous day closing price)
  • Assuming full acceptance in the Open Offer of 26%, the newly combined promoter group may become owners of 55.76% of CFS.
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