GlaxoSmithKline India stake @$940 mn
year that ended December 2011, contributing to nearly three-quarters of its total revenues.
A lot of the current business of Horlicks is in the south and the east of India. So there is still a great opportunity to increase the penetration to the north and the west, Redfern said in an interview, adding that the company intended to introduce new variants of the brand in the country.
GlaxoSmithKline does not plan to delist the unit.
Securities regulations in India require a minimum public shareholding of 25 percent for a company to maintain a public listing.
The offer period is expected to begin in January 2013.
($1 = 55.5850 Indian rupees) ($1 = 0.6246 British pounds)
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GSK makes open offer for 31.8% stake in GSKCH for Rs 5,220 cr
New Delhi: (PTI) UK-based Healthcare and drug major GlaxoSmithKline today said it has offered to hike stake in its Indian subsidiary, GlaxoSmithKline Consumer Healthcare, to up to 75 per cent which would entail an outgo of over Rs 5,220 crore.
"GlaxoSmithKline (GSK) has announced a voluntary open offer to increase its stake in its publicly-listed consumer healthcare subsidiary in India (GlaxoSmithKline Consumer Healthcare), from 43.2 per cent to up to 75 per cent at a price of Rs 3,900 per share," the company said in a statement.
The offer made pursuant to the rules of the Securities and Exchange Board of India, is to acquire up to 13,389,410 shares, representing 31.8 per cent of
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