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Axis Securities Report
With the total stock holding of co-promoters crossing 25% in Camlin Fine Sciences Ltd. an open offer to acquire additional 4.45 crore equity shares of Rs 1/- each constituting 26% of the total voting share capital got triggered enabling the acquirer Infinity Investment Management and other PACs to gain an incremental 26% stake in Camlin Fine Sciences at a price of Rs 160 per share.
Mr. Ashish Dandekar, Promoter and Managing Director (with 8.66% stake in the company) signed a cooperation agreement with Infinity Investment Management (21.1% stake owner in Camlin Fine Sciences) and Belgium-based Ackermans and van Haaren to become co-promoters increasing the total promoter stake post open offer to 55.76%.
Camlin Fine Sciences is expected to benefit from diverse promoter experience for its future strategies and further strengthen its position as one of the key global suppliers of specialty chemicals food chemicals and preservatives.
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