Coromandel International Limited has launched an open offer to acquire up to 26% stake in NACL Industries Limited, with an offer price of ₹76.70 per share, amounting to a total consideration of ₹402.4 crore, assuming full acceptance. The offer is in compliance with SEBI’s Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011.
The move follows Coromandel International’s agreement to acquire a controlling 52.98% stake (10.69 crore shares) in NACL Industries from its promoters, including KLR Products Limited, for ₹819.9 crore at the same price of ₹76.70 per share. With this acquisition, Coromandel will take over management control of NACL Industries and become its new promoter.
The open offer is being managed by JM Financial Limited, and its completion is subject to regulatory approvals, including clearance from the Competition Commission of India (CCI). The detailed public statement (DPS) for the offer is expected to be published by March 20, 2025.
NACL Industries, a Hyderabad-based agrochemical company, is currently listed on BSE (524709) and NSE (NACLIND). The company’s promoters and certain other shareholders will cease to be classified as promoters post-transaction.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own research before making any investment decisions.
