Mangalore Refinery and Petrochemicals Limited (MRPL) has announced the acquisition of a 26.96% stake in Mangalore SEZ Limited (MSEZ) from IL&FS for Rs 65.66 crore. This acquisition increases MRPL’s equity shareholding in MSEZ from 0.96% to 27.92%.
Key Highlights:
- Shares Acquired: 1,34,80,000 equity shares.
- Acquisition Cost: Rs 65.66 crore, at a revised price of Rs 48.71 per share.
- Purpose: The acquisition enhances MRPL’s control over MSEZ, leveraging its multi-product SEZ capabilities.
- Stakeholder Impact: MRPL’s increased involvement is expected to drive further benefits for its operations and the overall SEZ ecosystem.
About MSEZ:
- Incorporation Date: February 24, 2006.
- Type: Multi-product SEZ focusing on land leasing and utility services for industries.
- Size: Spread over 1,607 acres, operational since 2014, with 85% of the area leased out.
- Operational Units: Includes MRPL Aromatic Complex, Syngene, and other major players.
- Investments: Over USD 2 billion so far, with exports exceeding USD 3.2 billion.
Financial Performance of MSEZ:
| Year | Turnover (Rs crore) |
|---|---|
| 2020-21 | 169.48 |
| 2021-22 | 198.99 |
| 2022-23 | 344.64 |
| 2023-24 | 187.57 |
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always consult relevant professionals before making business or investment decisions.