Nov 26, 2012, 11.53 AM IST | Source: Reuters

GSK to raise stake in consumer products arm via open offer

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

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

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

Also Read: GlaxoSmithKline Pharma Q3 net up 4.44% at Rs 152.34 cr

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

GlaxoSmithKline Pharmaceuticals was quoting at Rs 2,085, up Rs 86.55, or 4.33%.

GlaxoSmithKline Consumer Healthcare was quoting at Rs 3,651.80, up Rs 608.60, or 20%. It has touched a 52-week high of Rs 3,651.80.

GlaxoSmith Con stock price

On April 17, 2014, GlaxoSmithKline Consumer Healthcare closed at Rs 4272.35, down Rs 62.45, or 1.44 percent. The 52-week high of the share was Rs 6020.00 and the 52-week low was Rs 3645.00.


The company's trailing 12-month (TTM) EPS was at Rs 119.62 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 35.72. The latest book value of the company is Rs 443.23 per share. At current value, the price-to-book value of the company is 9.64.

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