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Jyothy Laboratories Ltd. - News Verification

By Religare

News about Jyothy Laboratories Ltd..The media had reports that "Henkel Plans India Return with 26% in Jyothy Labs"., in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.Jyothy Laboratories Ltd. has vide its letter inter-alia stated, "We would like to inform you that as per our letter dated May 5, 2011 s, Henkel AG has an option to acquire upto 26% of equity share capital of Jyothy Laboratories Ltd. through primary and / or secondary transactions, after a period of 5 (five) years, subject to the terms and conditions to be mutually agreed. They have an option which they can exercise between April 1, 2016 and March 31, 2017.The article incorrectly mentions that the deadline for the same is March 31, 2016. As of now there is no development in this regard and the report is speculative. In case there is any development, we shall inform s."

Story first published: Monday, September 7, 2015, 12:10 [IST]
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