The offer could be made once the Dabur gets the approval from shareholders for the acquisition, possibly by the second week of next month, Dabur India CEO Sunil Duggal said.
Dabur had acquired Balsara by buying promoters' share, estimated at about 98 per cent, for Rs 143 crore (Rs 1.43) as part of its strategy to grow by 20 per cent annually through both organic and inorganic route.
"We might make an offer for purchasing residual shares in Balsara after getting shareholders approval for the purchase of entire promoter stake in the company," Duggal said.
Besides promoters' equity the company has sought approval of the shareholders through a postal ballot for purchase of residual equity with a total provision of Rs 147 crore (Rs 1.47 billion) for the deal.
The company at its last Board meeting, chaired by V C Burman, had approved the provision, which still leaves about Rs 400 lakh for purchase of residual equity. This issue remains just a formality as Burmans have nearly 80 per cent stake in Dabur India as promoters.
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