Bosch makes open offer for 20% in Indian entity

Press Trust of India / Mumbai July 17, 2008, 19:15 IST

German firm Robert Bosch GmbH today made a open offer to the shareholders of Bosch Chassis Systems India for acquiring 20 per cent stake in the company at a maximum price of Rs 600 per share.

As per the open offer Robert Bosch GmbH would acquire up to 4,158,906 equity shares of Rs 10 each representing 20 per cent of the fully paid-up equity share capital of its Indian entity, auto ancillary firm Bosch Chassis said in a filing to the Bombay Stock Exchange.

The offer is scheduled to open on August 4 and would close on August 8.
The Germany-based firm is the holding company of Robert Bosch LLC and Robert Bosch Investment Nederland B V, the promoters of Bosch Chassis Systems India.
The promoter holding in Bosch Chassis Systems India is 80 per cent of the total issued equity share capital of the company.
Pursuant to the open offer the promoter shareholding in Bosch Chassis Systems India would increase to 100 per cent and would entail the delisting of fully paid up equity shares of the company from the Bombay Stock Exchange and the National Stock Exchange.

The German firm would make the voluntary delisting offer to the public shareholders of Bosch Chassis Systems in accordance with the delisting guidelines.
The delisting offer would enhance operating flexibility of the company and would provide a second exit opportunity to the public shareholders of the company.
The price for the offer would be determined after the reverse book building process, the company said.