Shares of NACL Industries Ltd fell 3.54% to ₹76.76 on Wednesday, March 13, after Coromandel International Ltd announced the acquisition of a 53% stake in the company for ₹820 crore at ₹76.7 per share from KLR Products Ltd, the current promoter.
As per SEBI’s Takeover Regulations, Coromandel has also proposed an open offer to acquire up to 26% of NACL’s equity share capital from public shareholders. The acquisition is subject to regulatory approvals and is expected to be completed over the next few months.
NACL Industries, a leading crop protection firm, specializes in branded formulations, exports of technicals, and contract manufacturing for multinational agrochemical firms. The company operates technical and formulation plants in Andhra Pradesh and has a centralized R&D facility near Hyderabad. Additionally, its subsidiary has recently invested in a technical-grade facility in Dahej, which is focused on Active Ingredients manufacturing.
This acquisition will position Coromandel as a major player in the Indian crop protection sector, expand its portfolio, enhance contract manufacturing capabilities, and accelerate new product commercialization. However, investor sentiment remained cautious, leading to a dip in NACL’s stock price.
