Citigroup Global Markets India Private Limited has Submitted to the Exchange a copy of Letter of Offer.
SANOFICONR · price
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Awaiting price reaction for this filing.
Citigroup Global Markets India Private Limited has submitted a Letter of Offer to the exchange in connection with Sanofi Consumer Healthcare India Limited. A Letter of Offer is filed under SEBI Takeover Regulations when an acquirer makes a mandatory open offer to public shareholders after crossing a shareholding threshold or triggering a change in control. Citigroup Global Markets appears to be acting as the manager to the open offer process.
This signals that an open offer is underway for public shareholders of Sanofi Consumer Healthcare India. Eligible shareholders can tender their shares at the offer price during the offer window, which could lead to a potential re-rating of the stock depending on the offer premium.