Description
Sudarshan Europe B.V. and PACs make cash offer at INR 602.03 per share to acquire up to 26% voting share capital of Heubach Colorants India Limited.
Summary
Sudarshan Europe B.V. along with Persons Acting in Concert (PACs) - Sudarshan Chemical Industries Limited, Sudarshan Switzerland HLD1 AG, and Sudarshan Switzerland HLD2 AG - have launched an open offer to acquire up to 6,001,268 equity shares (26% of voting share capital) of Heubach Colorants India Limited at INR 602.03 per share, payable in cash.
Key Points
- Offer price: INR 602.03 per equity share (face value INR 10 each)
- Target shares: 6,001,268 fully paid equity shares representing 26% voting capital
- Offer comprises INR 578.11 base price plus INR 23.92 interest (10% per annum)
- Offer made under SEBI (SAST) Regulations 2011 pursuant to Regulations 3(1), 4 and 5(1)
- Not conditional upon minimum level of acceptance
- Interest calculated for period between October 11, 2024 and March 10, 2025
Regulatory Changes
None specified in this circular - this is a takeover offer under existing SEBI (SAST) Regulations framework.
Compliance Requirements
- Public shareholders must respond to the Letter of Offer using Form of Acceptance-cum-Acknowledgement
- Recent sellers of equity shares must hand over offer documents to stock exchange members
- Acquirer and PACs must comply with SEBI (SAST) Regulations requirements
Important Dates
- Interest calculation period: October 11, 2024 to March 10, 2025
- Offer opening date: To be specified in detailed offer documents
Impact Assessment
High impact takeover offer that could result in change of control for Heubach Colorants India Limited. The cash offer at INR 602.03 per share represents significant premium and will affect market pricing and trading patterns. Total offer value approximately INR 361 crores for the 26% stake being acquired.
Impact Justification
Major takeover offer affecting 26% of voting capital with significant cash outlay of INR 602.03 per share