Competition Commission clears Coromandel International's stake purchase in NACL Industries
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Fair trade regulator CCI on Tuesday cleared Murugappa Group firm Coromandel International 's proposal to acquire a stake in NACL Industries NACL, a listed entity, operates in the agro-chemical sector . It offers crop protection products and active ingredients."The proposed combination comprises acquisition of certain equity shares in NACL Industries Ltd (NACL) by Coromandel International Ltd (CIL)," the Competition Commission of India (CCI) said in a release.CIL is a leading agri solutions provider. It operates in two major segments, nutrient and other allied businesses and crop protection."CCI approves acquisition of certain equity shares in NACL Industries Limited by Coromandel International Ltd," the regulator said in a post on X.In March this year, Coromandel International announced the acquisition of a majority -- 53 per cent -- stake in NACL Industries Ltd for Rs 820 crore.The company also said that it proposes to make an open offer to the public to acquire up to 26 per cent of the equity share capital in agro-chemical firm NACL Industries, as per the Sebi takeover rules A share purchase agreement has been signed amongst Coromandel International, NACL Industries, the seller (KLR Products Ltd), K Lakshmi Raju (being a promoter) and Bright Town Investment Advisor (being a member of the promoter/promoter group of NACL), Coromandel International said.The acquisition will help in expanding Coromandel's scale, accelerating its entry into contract manufacturing business , fast-tracking new product commercialisation and expanding its product portfolio, it added.Coromandel International reported a turnover of Rs 22,290 crore for FY23-24. It is a part of the Murugappa Group. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
25 minutes ago
- India Today
Retiring without children? Here's how to plan for a comfortable and secure future
In India, family has always been the backbone of support, especially during old age. Children are often seen as the ones who'll stand by you, manage your medical needs, and take care of your finances when you can't. But what if you don't have children? How do you plan for those later years when you know you'll have to stand strong on your own?advertisementToday, more and more Indians are choosing to remain child-free or find themselves without direct heirs for various reasons. For them, retirement planning isn't just about saving money and building a corpus, it's about securing comfort, care, dignity, and independence in their golden spoke to Ajay Kumar Yadav, Group CEO and CIO, Wise Finserv Private Wealth, and Sameer Mathur, MD and Founder of Roinet Solution, to understand how people can protect their future, health, and peace of mind when they don't have children to lean YOUR OWN SAFETY NET Sameer Mathur sums it up best: 'Without the usual safety net of children to fall back on for support—be it emotional, financial, or in managing health, these individuals need to plan more carefully and independently.'In other words, your savings have to stretch further. He advises building a retirement fund worth at least 20–25 times your expected annual expenses. For instance, if you think you'll need Rs 6 lakh a year to live comfortably, you should aim for a corpus of around Rs 1.0–1.2 crore, at the very Kumar Yadav, Group CEO and CIO at Wise Finserv Private Wealth, adds another layer, 'Ensure that 60–70% of your monthly expenses are covered through guaranteed income asset classes such as annuities, bonds, or other fixed income instruments that generate cash flows regularly.'Sameer Mathur also points to annuity plans from LIC or the National Pension System (NPS) as smart picks for those retiring without children, since they provide steady income for life. Additionally, systematic withdrawal plans (SWPs) from mutual funds can help you handle surprise costs without depleting your main PLAN FOR RISING COSTSMedical costs in India are climbing every year. And when you don't have children to take you to the doctor or manage your medicines, you need to plan advises, 'Start with a comprehensive health insurance policy early in life. It's your first line of defence. Build a separate medical fund for costs like home care, nursing, or treatments insurance may not cover.'Yadav agrees: 'To handle inflation-linked health expenses, make a separate medical and elder care fund, ideally 20–25% of your total corpus.'Also, check out senior-specific insurance plans that include add-ons for critical illness, day-care procedures, and even home healthcare. If you can find it, long-term care insurance or a dedicated elder care fund can go a long way in paying for nursing staff or assisted living expenses that children would usually help CARE: YOUR BACKUP TEAMadvertisementGrowing old alone doesn't have to mean feeling lonely or helpless. Senior living communities are slowly finding acceptance in India. Many offer not just a place to stay but medical facilities, social activities, and a sense of reminds us: 'Consider senior living communities that offer medical support and social connection, they're slowly becoming more accepted in India.'The key is to plan and choose what suits you best, whether that's hiring home help, shifting to a retirement community, or keeping funds ready for assisted living if you ever need MATTERS: PUT IT IN WRITINGOne of the biggest risks for people without direct heirs is not having clear legal instructions. In India, family disputes over property are common, especially when there's no explains,'A clear and updated will is essential, it ensures your assets go exactly where you want them to, whether it's to extended family, close friends, or a cause you care about.''Draft a clear and registered Will that outlines how your assets should be distributed, whether to family members, friends, or charities,' echoes Yadav. He also suggests setting up a private trust if you have significant from a will, appoint someone you trust as Power of Attorney to handle your finances if you're ever unable to do so. A Living Will or Advance Directive can make sure your medical wishes are respected, especially when you can't speak for WITHOUT CHILDREN: A LIFE BY DESIGNNot having children doesn't have to mean your later years are uncertain. As Ajay Kumar Yadav says, "Planning for retirement without children isn't about what's missing, it's about what's possible. With the right financial discipline, legal foresight, and emotional awareness, you can build a future where your later years are defined not by dependence, but by dignity and choice."Simply put, your retirement should be a time to live life on your terms, secure, comfortable, and free. With some extra planning and the courage to prepare for the unexpected, that dream is entirely possible, even if you're doing it prepared, stay independent, and live the life you've worked so hard for.- Ends advertisement
Business Standard
34 minutes ago
- Business Standard
Insurance companies second largest net providers of funds to financial system as at end-Mar-25
According to a latest update from the Reserve Bank of India, with gross receivables at Rs 11.12 lakh crore against gross payables at Rs 0.91 lakh crore, insurance companies were the second largest net providers of funds to the financial system as at end-March 2025. SCBs (primarily PVBs) were the largest recipients of their funds, followed by NBFCs and HFCs. Insurance companies provided funds mostly through LT debt and equity, accounting for 90 per cent of receivables, with limited exposure to ST instruments. As of December 2024, and the previous three quarters, the aggregate solvency ratio for insurance companies remained above the prescribed threshold. The solvency ratio of the life insurance companies remained at 204 per cent, while non-life insurance companies maintained a solvency ratio of 166 per cent as of December 2024.
New Indian Express
34 minutes ago
- New Indian Express
This Loan Utsav, Get Instant Personal Loans with Zero Hassle
Life often brings unexpected expenses — some joyful, others demanding. From sudden travel plans to medical bills or urgent home repairs, these expenses can strain your savings. During such times, a personal loan offers timely financial support with quick access to funds and minimal paperwork. As the Loan Utsav by Bajaj Finance unfolds, it's an ideal opportunity to explore how a personal loan can help you meet your financial needs efficiently — without compromising on convenience. Fast, flexible, and fully digital, it is designed to support real-life financial requirements. How does a personal loan work A personal loan gives you quick access to money, making it a good option for handling unexpected expenses. With a Bajaj Finserv Personal Loan, you can get an amount up to Rs. 55 lakh based on your needs, get the money quickly, and repay it over a flexible period. It's a simple and reliable way to manage sudden financial needs. Why this Loan Utsav is the perfect time to apply Here are some reasons why opting for a personal loan from Bajaj Finance during this Loan Utsav can help you:
