Deepak Mining Solutions Limited (DMSL), a wholly owned subsidiary of Deepak Fertilisers and Petrochemicals Corporation, has successfully completed the acquisition of Chardham Chemicals Private Limited. The transaction, valued at ₹121.45 crore, was finalised on 6th May 2026.
The acquisition of Chardham Chemicals, an explosives manufacturer, is expected to enhance DMSL’s product offerings and enable the company to undertake mine productivity improvement programmes. This strategic move is aligned with DMSL’s Total Cost of Ownership (TCO) model, aiming to deliver value to the mining sector. Additionally, the acquisition will facilitate the export of differentiated products to DMSL’s wholly owned mining servicing subsidiary in Australia and other international markets.
Chardham Chemicals, incorporated on 5th March 2021, is engaged in the manufacturing of explosives. Despite having a paid-up capital of ₹1,00,000, the company reported no turnover for the financial years ending 31st March 2023, 2024, and 2025. The acquisition does not fall under related party transactions, and no regulatory approvals were required to finalise the deal.
The acquisition was completed as a cash transaction, with DMSL acquiring 100% control of Chardham Chemicals. The deal was initially announced on 24th December 2025, and the completion was in accordance with the agreement made on that date.
The acquisition is expected to bolster DMSL’s capabilities in the explosives industry, providing a comprehensive range of products to enhance mine productivity and expand its footprint in the global market.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).