Sudarshan Europe launches open offer for Heubach Colorants India stake

Sudarshan Europe B.V. ("Acquirer"), along with PAC-1, PAC-2, and PAC-3, has launched an open offer to acquire up to 6,001,268 equity shares of Heubach Colorants India Limited, representing 26% of the voting share capital. The offer price is INR 602.03 per equity share, including interest, and will be paid in cash. This follows an indirect acquisition that increased the acquirer's indirect holding to 54.36% of the target company. The tendering period for the open offer begins on Thursday, September 11, 2025, and closes on Wednesday, September 24, 2025.

The total consideration payable by the acquirer, assuming full acceptance, is INR 3,61,29,43,374.04. The acquirer and PACs have confirmed sufficient financial resources for the offer, with INR 361,50,00,000.00 deposited in an escrow account. The offer is not conditional on minimum acceptance.

The acquirer and PACs intend to position Heubach Colorants India for future growth. Following the open offer, the acquirer and PACs will collectively hold 80.36% of the voting share capital, assuming full acceptance. Public shareholders are advised to consult tax advisors for tax implications.