Citigroup Global Markets India Pvt. Ltd. (Manager to the Offer) has submitted to the Exchange a copy of Disclosure in relation to number of Equity Shares tendered in connection with the Open Offer on May 02,2025
SANOFICONR · price
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Sanofi Consumer Healthcare India has reported the latest tendering status of its ongoing Open Offer. Acquirer Opal Bidco SAS, along with private equity firm Clayton, Dubilier & Rice (acting as a person acting in concert), is looking to buy up to 59,87,962 equity shares (26% of voting share capital) from public shareholders. As of May 2, 2025, only 17,434 shares have been tendered so far, which is just 0.29% of the total offer size. Of these, only 270 shares were tendered on May 2 itself. The open offer was launched via the letter of offer dated April 12, 2025, under SEBI takeover rules.
Very low shareholder participation so far suggests weak enthusiasm for tendering shares at the offer price, which could mean public shareholders are holding out for a better price or expect the stock to perform well post-offer. The extremely low response (0.29%) indicates the offer price may not be seen as attractive enough.