Henkel AG & Co.KGaA, Germany, Henkel India Ltd's Foreign Promoter, having its Office at No.40191, Dusseldorf, Germany. It states that Henkel AG & Co.KGaA have signed a letter of undertaking on May 05, 2011 with M/s. Jyothy Laboratories Ltd., Mumbai for the sale of 5,93,60,203 Equity Shares (comprising 50.97%) held in the Company to M/s. Jyothy Laboratories Ltd., Mumbai.
In an all-cash transaction amounting to Rs. 118.7 Crs, Henkel AG & Co. KGaA sells 5,93,60,203 equity shares at Rs. 20/- each to M/s. Jyothy Laboratories Ltd. M/s. Jyothy Laboratories Ltd. had acquired a 14.9% stake in Henkel India Ltd. from the Indian promoter M/s. Tamilnadu Petroproducts Ltd. in March 2011.
Source: Equity Bulls