Healthcare and drug major, GlaxoSmithKline has said that it is planning to increase its stake in its Indian subsidiary, GlaxoSmithKline Consumer Healthcare.

The UK based parent company is planning to increase its stake to upto 75 percent that this could involve an infusion of Rs 5,220 crore. It has made an open offer to acquire additional 31.8 per cent stake in the Indian unit. The company currently holds from 43.2 percent stake in the unit.

The company said in a statement that, "GlaxoSmithKline has announced a voluntary open offer to increase its stake in its publicly-listed consumer healthcare subsidiary in India, from 43.2 percent to up to 75 percent at a price of Rs 3,900 per share."

The company also said that the offer is aimed at acquiring up to 13,389,410 shares, which is about 31.8 percent of the total outstanding shares of the Indian unit. The expected price of the offer is believed to be about Rs 5,220 crore or 591 million pounds.

GSK Chief Strategy Officer David Redfern said that the deal offers an attractive premium to the shareholders. The offer price is a premium of 28 per cent on the closing price of the shares of the GlaxoSmithKline Consumer Healthcare on the National Stock Exchange (NSE).