Mumbai, July 26 :    Mumbai, July 26:  In a move aimed at consolidating its presence in the country, Royal Philips Electronics NV today announced plans to acquire a 46.8 per cent stake in CG Glass Ltd. It will acquire the 46.8 per cent stake in the company promoted by Crompton Greaves Ltd and CDC Group Plc for Rs 13.75 per share. Crompton Greaves and CDC Group Plc hold 28.8 per cent and 18 per cent respectively in CG Glass. Simultaneously, Royal Philips declared it will also make an open offer to acquire the balance of the outstanding shares of CG Glass at the same price. If the open offer is successful, Philips will seek a delisting of CG Glass. The news brought the dormant CG Glass counter alive on the Bombay Stock Exchange (BSE) today, as the scrip polevaulted from Rs 9 to Rs 11.25, with very few trades reported today. The open offer price is a 52.8 per cent premium over the scrip's yesterday's closing price on the BSE and a 77 per cent premium to the six-months average price, it added. The offer will open on August 28 and close September 26, with DSP Merrill Lynch Ltd as the financial advisor, which had earlier lead-managed open offers for group companies Punjab Anand Lamps and Philips India Ltd. CG Glass produces glass shells, tubular sheets and glass tubings and sells a substantial portion of its output to Philips India's lighting division. Philips India procures almost 25 per cent of the target company's production for its in-house needs. Commenting on the acquisition, K Ramachandran, managing director, Philips India said: 'This acquisition demonstrates our commitment both to India and to our lighting business. We see this acquisition as a strategic fit with the plans of the lighting business,' he added. Philips India senior vice-president, lighting division, S. Venkatramani said: 'The acquisition of CG facilitates our backward integration and enables the lighting business to take advantage of efficiencies in the supply-chain. We will have sufficient capacity in place to enhance customer focus and improve our market position.'