Coromandel International shares jump 4% as CCI clears Rs 820 crore deal to acquire majority stake in NACL Industries
Coromandel International shares surged nearly 4% in morning trade after receiving a green signal from the Competition Commission of India (CCI) for its planned acquisition of a controlling stake in NACL Industries Ltd. The Murugappa Group-backed company will acquire a 53.13% stake in the agrochemical firm for ₹820 crore. As of 9:20 AM, the shares were trading 3.39% higher at Rs 2,350.00.
As part of the approved deal, Coromandel will buy over 10.68 crore equity shares of NACL from existing promoters, including KLR Products Ltd, K. Lakshmi Raju, and Bright Town Investment Advisor Pvt Ltd. The company will also purchase a small number of shares—5,500 each—from two public shareholders, Krishi Rasayan Exports Pvt Ltd and Agro Life Science Corporation.
This move marks a significant strategic push by Coromandel into the crop protection segment, complementing its core fertiliser business. With the CCI's nod secured, the company now plans to initiate an open offer to acquire up to an additional 26% stake from NACL's public shareholders, in line with SEBI's takeover norms.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Ahmedabad Plane Crash
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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