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| Business Line, Friday, Apr 23, 2004 |
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| Sanmar group stake up in Chemplast Sanmar |
Our Bureau
Chennai , April 22 |
| THE Sanmar group, promoter of Chemplast Sanmar, on Thursday informed the NSE that it had acquired 1.05 crore shares of Chemplast on April 20. |
| Following the acquisition, the promoter group holds 76.88 per cent of the company's total paid-up capital. |
| The exchange notice said that the acquisition came out of a scheme of arrangement between Sanmar Holdings, Sanmar Properties and Investments, and Chemplast Sanmar, and their respective shareholders. |
| As a result of the aforementioned arrangement, the stake of Sanmar Holdings in Chemplast Sanmar stands at 76.63 per cent. |
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