Kokuyo to make Camlin open offer at Rs 110/share.

Japanese company Kokuyo is buying stake in Camlin at a valuation of Rs 110/share, sources with direct knowledge said. This is at a 30% premium to the current market price of the Camlin stock. Kokuyo has today announced on Nikkei Stock Exchange that it is buying stake in Camlin. 

Sources said Kokuyo will buy 51% stake in Camlin for which it will make an open offer to buy up to 20% stake in the company, which is expected at Rs 110/share. The entire deal size is at Rs 365 crores. The promoters of Camlin are selling 23% stake in Camlin for about Rs 150 crores. Camlin will also make a preferential allotment of 10% stake in company to Kokuyo, this will be done through fresh equity issuance. 


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