Organon raises stake in Infar India

By Our Corporate Reporter

CHENNAI, NOV. 25. Organon Participations BV's open offer to the shareholders of its Indian subsidiary, Infar, received good response from Indian shareholders.

The offer, which ended on November 13, has resulted in Organon Participations BV, raising its stake in Infar to 92.2 per cent of the outstanding equity.

The offer was handled by HSBC Securities and Capital Markets (India) Private Limited.

Organon had earlier entered into an agreement to acquire 25.5 per cent of the shares of the Indian promoters of Infar. This had led to Organon increasing its stake to 75.96 per cent in Infar's share capital.

With the current holding of 92.2 per cent, Organon will hold a mandatory offer for the remaining shareholders and then commence the process of delisting Infar from the National and Kolkata stock exchanges.

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Section  : Business
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