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DRAFT LETTER of OFFER Dated December 28, 2007 for Equity Shareholders of the Company Only

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DRAFT LETTER of OFFER Dated December 28, 2007 for Equity Shareholders of the Company Only DRAFT LETTER OF OFFER Dated December 28, 2007 For Equity Shareholders of the Company only GODREJ CONSUMER PRODUCTS LIMITED (Incorporated as a public limited company on November 29, 2000 at Maharashtra, under the Companies Act, 1956) Registered Office: Pirojshahnagar, Eastern Express Highway, Vikhroli, Mumbai 400079 Tel No: (91 22) 25188010 Fax No: (91 22) 25188040 Compliance officer and Contact Person: Mr. Sunil S. Sapre, Executive Vice President (Finance and Commercial) and Company Secretary Email: [email protected] Website: www.godrejcp.com FOR PRIVATE CIRCULATION TO THE EQUITY SHAREHOLDERS OF THE COMPANY ONLY DRAFT LETTER OF OFFER ISSUE OF [●] EQUITY SHARES OF Re. 1 EACH AT A PREMIUM OF Rs. [●] PER EQUITY SHARE AGGREGATING TO AN AMOUNT NOT EXCEEDING RS. 4,000 MILLION TO THE EQUITY SHAREHOLDERS ON RIGHTS BASIS IN THE RATIO OF [●] EQUITY SHARE FOR EVERY [●] EQUITY SHARES HELD ON THE RECORD DATE I.E. [●] (“ISSUE”). THE ISSUE PRICE IS [●] TIMES OF THE FACE VALUE OF THE EQUITY SHARE GENERAL RISKS Investments in equity and equity related securities involve a high degree of risk and Investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the Risk Factors carefully before taking an investment decision in relation to this Issue. For taking an investment decision, Investors must rely on their own examination of the Issuer and the Issue including the risks involved. The securities have not been recommended or approved by the Securities and Exchange Board of India (“SEBI”) nor does SEBI guarantee the accuracy or adequacy of this document. Investors are advised to refer to “Risk Factors” on page [•] of this Draft Letter of Offer before making an investment in this Issue. ISSUER’S ABSOLUTE RESPONSIBILITY The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Letter of Offer contains all information with regard to the Issuer and the Issue, which is material in the context of this Issue, that the information contained in this Draft Letter of Offer is true and correct in all material respects and is not misleading in any material respect, that the opinions and intentions expressed herein are honestly held and that there are no other material facts, the omission of which makes this Draft Letter of Offer as a whole or any such information or the expression of any such opinions or intentions misleading in any material respect. LISTING The existing Equity Shares of the Company are listed on The Bombay Stock Exchange Limited (“BSE”) and The National Stock Exchange of India Limited (“NSE”). The Company has received “in-principle” approvals from BSE and NSE for listing the Equity Shares arising from this Issue vide letters dated [•] and [•] respectively. For the purposes of the Issue, the Designated Stock Exchange shall be [●]. LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE JM Financial Consultants Intime Spectrum Registry Private Limited Limited 141, Maker Chambers III, C 13, Pannalal Silk Mills Nariman Point, Compound, Mumbai 400 021 LBS Marg, Bhandup (West), Tel: (91 22) 6630 3030 Mumbai 400 078 Fax: (91 22) 2204 7185 Tel: (91 22) 2596 0320-7 Email: [email protected] Fax: (91 22) 2596 0328-9 Website: www.jmfinancial.in Email: Contact Person: Ms. Poonam Karande [email protected] SEBI Registration No: INM000010361 Website: www.intimespectrum.com Contact Person: Ms. Awani Thakkar SEBI Registration: INR000003761 ISSUE PROGRAMME LAST DATE FOR REQUEST FOR SPLIT ISSUE OPENS ON ISSUE CLOSES ON APPLICATION FORMS [y] [y] [y] DRAFT LETTER OF OFFER Dated December 28, 2007 For Equity Shareholders of the Company only TABLE OF CONTENTS PRESENTATION OF FINANCIAL INFORMATION AND USE OF MARKET DATA.............................3 FORWARD LOOKING STATEMENTS .............................................................................................................7 ABBREVIATIONS & TECHNICAL TERMS..................................................................................................... 8 RISK FACTORS....................................................................................................................................................12 THE ISSUE.............................................................................................................................................................25 SUMMARY FINANCIAL AND OPERATIONAL INFORMATION ............................................................26 GENERAL INFORMATION...............................................................................................................................31 CAPITAL STRUCTURE......................................................................................................................................35 OBJECTS OF THE ISSUE...................................................................................................................................45 BASIS FOR ISSUE PRICE ..................................................................................................................................53 STATEMENT OF TAX BENEFITS ...................................................................................................................56 INDUSTRY OVERVIEW.....................................................................................................................................69 BUSINESS...............................................................................................................................................................72 REGULATIONS AND POLICIES......................................................................................................................84 HISTORY AND CERTAIN CORPORATE MATTERS..................................................................................88 DIVIDENDS ...........................................................................................................................................................99 MANAGEMENT..................................................................................................................................................100 OUR PROMOTERS............................................................................................................................................113 RELATED PARTY TRANSACTIONS ............................................................................................................159 AUDITOR’S REPORT .......................................................................................................................................171 FINANCIAL STATEMENTS ............................................................................................................................175 NOTES TO THE RESTATED CONSOLIDATED FINANCIAL STATEMENTS ...................................212 STOCK MARKET DATA FOR EQUITY SHARES OF THE COMPANY................................................224 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS .....................................................................................................................................................226 MATERIAL DEVELOPMENTS.......................................................................................................................251 TERMS OF THE PRESENT ISSUE.................................................................................................................284 MAIN PROVISIONS OF ARTICLES OF ASSOCIATION..........................................................................300 MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ......................................................307 DECLARATION..................................................................................................................................................308 DRAFT LETTER OF OFFER Dated December 28, 2007 For Equity Shareholders of the Company only OVERSEAS SHAREHOLDERS The distribution of this Draft Letter of Offer and the issue of Equity Shares on a rights basis to persons in certain jurisdictions outside India may be restricted by legal requirements prevailing in those jurisdictions. Persons into whose possession this Draft Letter of Offer may come are required to keep themselves informed about and observe such restrictions. The Company is making this Issue of Securities on a rights basis to the shareholders of the Company and will dispatch the Letter of Offer and CAF to shareholders who have an Indian address. No action has been or will be taken to permit this Issue in any jurisdiction where action would be required for that purpose, except that this Draft Letter of Offer has been filed with SEBI for observations. Accordingly, the Securities may not be offered or sold, directly or indirectly, and this Draft Letter of Offer may not be distributed in any jurisdiction, except in accordance with legal requirements applicable in such jurisdiction. Receipt of this Draft Letter of Offer will not constitute an offer in those jurisdictions in which it would be illegal to make such an offer and, those circumstances, this Draft Letter of Offer must be treated as sent for information only and should not be copied or redistributed. Accordingly, persons receiving a copy of this Draft Letter of Offer should not, in connection with the issue of the Securities or the rights entitlements, distribute or send the same in or into the United States or any other jurisdiction where to do so would or might contravene
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