Dabur hikes stake in Fem Care to 92.15 pc after open offer

Thu. June 18, 2009; Posted: 12:05 AM

Mumbai, Jun 17, 2009 (Asia Pulse Data Source via COMTEX) -- DBUIF | Quote | Chart | News | PowerRating -- FMCG firm Dabur India today said it has increased its stake in Fem Care Pharma Ltd (FCPL) to 92.15 per cent after the conclusion of open offer.

The FMCG firm bought 7,05,880 equity shares (representing 20 per cent of the paid up equity) of Fem Care Pharma for Rs 56.47 crore, Dabur India said in a filing with the Bombay Stock Exchange.

Prior to the open offer, Dabur India held over 25.46 lakh equity shares -- representing 72.15 per cent stake -- of Fem Care Pharma, it said.

Dabur India had acquired Fem Care Pharma Ltd, a leading player in the womens skin care products market, for Rs 203.73 crore in an all-cash deal on November 21, 2008.

While Dabur's presence in the estimated Rs 1,200-crore Indian skin care market is limited only through the Gulabari range at present, it is expecting to have a sizeable share as soon as it completes the Rs 203.73 crore acquisition by June-end.

Fem Care has products including Oxy Bleach, Fem Bleach, Botanica and Saka in its portfolio. Dabur forayed into skin care market last year with the launch of the Gulabari range of moisturising cream, moisturising lotion and face freshener spray.

The shares acquired pursuant to the open offer are in the process of being transferred to Dabur India and shares acquired under the Share Purchase Agreement would be transferred on the completion date, it said.

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