Bain Cap acquires 16% stake in Himadri Chemicals for Rs 252 Cr

Bain Cap acquires 16% stake in Himadri Chemicals for Rs 252 Cr; to make open offer for 20% stake

Bain Cap acquires 16% stake in Himadri Chemicals for Rs 252 crore. Bain Capital will make open offer for 20% stake in Himadri Chemicals.

The amount of Rs 252 crore, which Bain Cap has paid for 16% stake in Himadri Chemicals makes total value of the company at Rs 1575 crore, while the market cap of the company is Rs 1439 crore. So, the acquisition price is at a premium of Rs 136 crore. The open offer for 20% stake by Bain Cap of Himadri Chemicals may take the stock up from the current levels.

The stock rallied in today’s trade and touched a 52 week high of Rs 457.95. It touched an intra day high of Rs 457.95 and an intra day low of Rs 426.05 and at closing, the share was quoting at Rs 446, up Rs 20.95, or 4.93%, trading with volumes of 180,590 shares, compared to its 5-day average of 45,552 shares, an increase of 296.44%. Yesterday the share closed up 3.67% or Rs 15.05 at Rs 425.05.

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