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 July 14, 2014, GlaxoSmithKline Consumer Healthcare closed at Rs 4641.90, down Rs 43.1, or 0.92 percent. The 52-week high of the share was Rs 5375.00 and the 52-week low was Rs 3875.00.


The company's trailing 12-month (TTM) EPS was at Rs 123.25 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 37.66. The latest book value of the company is Rs 431.06 per share. At current value, the price-to-book value of the company is 10.77.

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