Chemicals maker Colour Chem is making an open offer for a further 20 per cent stake in Vanavil Dyes & Chem at Rs 45.90 per share, the Bombay Stock Exchange said on Tuesday.
The company already owns 56.19 per cent of Vanavil, according to a statement on the BSE's Web site.
Colour Chem said the open offer followed one made by EBITO Chemiebeteiligungen AG, along with Clariant Intl and Clariant AG, to acquire up to 2.33 million shares in Colour Chem, the BSE said.
The offer opens on June 16 and closes on July 15.