Infinity Direct Holdings and Infinity Direct Holdings Sidecar I completed the acquisition of 9.7% stake in Camlin Fine Sciences Limited for INR 2.7 billion.
August 30, 2023
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Infinity Direct Holdings and Infinity Direct Holdings Sidecar I offered to acquire 26% stake in Camlin Fine Sciences Limited (BSE:532834) for INR 7.1 billion on April 17, 2023. In a similar transaction Infinity Direct Holdings and Infinity Direct Holdings Sidecar I signed an agreement to acquire unknown minority stake in Camlin Fine Sciences Limited (BSE:532834) on April 17, 2023. The offer will commence on June 8, 2023 and will close on June 21, 2023. As of August 25, 2023, 6,57,394 equity shares have been tendered in the escrow demat account. As of August 29, 2023, 1,17,44,423 equity shares have been tendered in the Escrow Demat Account. As of August 30, 2023, 1,17,44,423 equity shares have been tendered in the Escrow Demat Account and 1,000 Equity Shares have been tendered by the Public Shareholders holding Equity Shares in the physical form with the Registrar. As of August 31, 2023, 1,66,19,235 Equity Shares have been tendered in the Escrow Demat Account and 2,000 Equity Shares have been tendered by the Public Shareholders holding Equity Shares in the physical form with the Registrar. The transaction is expected to close on August 31, 2023. Centrum Capital Limited acted as financial advisor to Infinity Direct Holdings and Infinity Direct Holdings Sidecar I. Link Intime Private Limited acted as registrar to Infinity Direct Holdings and Infinity Direct Holdings Sidecar I.
Infinity Direct Holdings and Infinity Direct Holdings Sidecar I completed the acquisition of 9.7% stake in Camlin Fine Sciences Limited (BSE:532834) for INR 2.7 billion on August 31, 2023.
Camlin Fine Sciences Limited is an India-based company, which is engaged in research, development, manufacturing and marketing of specialty chemicals, ingredients, and additive blends. The Company is a provider of diverse advanced antioxidants and shelf-life extensions, aroma ingredients, performance chemical products and related solutions for food, animal nutrition, pet food, pharmaceutical and petrochemical industries globally. Its products include TBHQ, Catechol, BHA, 4-Tertiary Butyl Catechol, Xtendra, Butylated Hydroxy Toluene, Guaiacol, Para DiMethoxy Benzene, NaSure, MEHQ, Ascorbyl Palmitate, and HQEE. The Company manufactures specialty chemicals that can be categorized into shelf-life solutions, performance chemicals, aroma ingredients and health and wellness. Its products are used in varied industries, such as human food, animal feed, pet food, agrochemicals, petrochemicals, pharmaceuticals, nutraceuticals, flavors and fragrances and health care.
Infinity Direct Holdings and Infinity Direct Holdings Sidecar I completed the acquisition of 9.7% stake in Camlin Fine Sciences Limited for INR 2.7 billion.