Heubach Colorants India Limited
Clariant Chemicals (India) Ltd is engaged in manufacturing and selling pigments, additives, masterbatches, and specialty chemicals.
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Heubach Colorants has published a "Pre-Offer Advertisement cum Corrigendum" regarding the open offer by Sudarshan Europe B.V. and its PACs. This signals an update or correction to the terms of the open offer to public shareholders.
Heubach Colorants' Independent Directors assessed the open offer by Sudarshan Europe BV for 26% of shares at ₹235 each. They find the offer price fair and financially reasonable, providing public shareholders an opportunity to exit their investment.
Sudarshan Europe now controls 54.36% of Heubach Colorants, triggering a 26% open offer for 60.01 lakh shares at INR 602.03 each, valuing the offer at ~361.29 Cr. This strategic move targets growth and potential business overhaul, following recent financial reporting delays that resulted in penalties.
Heubach Colorants reported strong Q1 results with revenue at 21,072 and net profit at 1,709. A key development is Sudarshan Chemical Industries' subsidiary gaining indirect control. Board changes include Rajesh Rathi as new Chairman, Mandar Velankar joining as Non-Executive Director. Independent Director Amitabha Mukhopadhyay resigned due to potential conflict, and...
Heubach Colorants reported Q1 revenue of ₹21.07 Cr and net profit of ₹17.09 Cr, showing strong YoY growth. A significant development is Sudarshan Chemical Industries' indirect acquisition of 54.36% control, with an open offer for public shareholders underway. However, auditors issued a qualified opinion regarding an unauthorized asset transfer valued...