Jyothy Laboratories to amalgamate Henkel India Ltd with itself

MUMBAI: The board of directors of Jyothy Laboratories Ltd. (JLL) today approved the amalgamation of Henkel India Ltd. (HIL) with itself. As per the scheme of arrangement, shareholders of HIL will get 1 share of JLL for every 8 shares of HIL, subject to adjustment for impending issue of Bonus Shares in the ratio of 1:1 by JLL. The shares held by JLL in HIL will be extinguished post merger. After the merger, equity of JLL will increase by 2.87%.

Commenting on the event, Mr. M P Ramachandran - Chairman & Managing Director, Jyothy Laboratories Ltd said, "We have been integrating operation of both JLL and HIL to derive synergies in cost, marketing and distribution. The merger is one more step towards reaping the benefits of our efforts."

ABOUT JYOTHY LABORATORIES: Jyothy Laboratories Ltd, a fast moving consumer goods Company was founded in 1983 by Mr. M P Ramachandran. Over the years the company has evolved from a single product proprietary firm into a multi brand company involved in the manufacturing and marketing of products in fabric care, mosquito repellant, surface cleaning, personal care and incense sticks.

The company has 28 manufacturing facilities in 16 locations across India, some of which are tax efficient units. With the acquisition of Henkel India, the company now own two additional manufacturing facilities across India and boasts of 10 brands in its kitty such as Ujala, Maxo, Exo, Henko, Pril, Fa, Margo, Mr. White, Chek and Neem.

The Company has recently forayed into service sector in organized laundry at affordable price through its subsidiary ' Jyothy Fabricare Services Limited'.