The board of Dabur India has approved entering into a share purchase agreement with the existing promoters of FEM CARE PHARMA for acquisition of 25,46,596 equity shares of Rs 10 each of FEM representing 72.15% of the fully diluted paid up equity share capital of FEM at a price of Rs 800 per equity share.At present the company is acquiring 20,25,296 equity shares of Rs 10 each constituting 67.33% of existing equity share capital of the company.
The balance 5,21,300 equity shares shall be acquired as and when allotted and also includes 1,30,326 equity shares of Rs 10 each which shall be under lock-in pursuant to requisite regulations / laws / scheme of merger and shall be acquired subject to approval of Stock Exchange in this regard.This was approved at the board meeting held on 21 November 2008.
The balance 5,21,300 equity shares shall be acquired as and when allotted and also includes 1,30,326 equity shares of Rs 10 each which shall be under lock-in pursuant to requisite regulations / laws / scheme of merger and shall be acquired subject to approval of Stock Exchange in this regard.This was approved at the board meeting held on 21 November 2008.
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