NACL Industries is a crop protection company with a strong branded formulation business in India, exports of technicals to global markets, and contract manufacturing operations with multinational agrochemical firms.
In line with SEBI Takeover Regulations, Coromandel will also make an open offer to acquire up to 26% of NACL’s equity share capital from public shareholders. The proposed transaction is subject to regulatory approvals and is likely to be consummated over the next few months.
Also Read: Coromandel International hikes stake in Senegal’s Baobab Mining, to invest $10.34 million
The proposed acquisition will position Coromandel as one of the leading players in the Indian crop protection industry with a wide range of technicals and a pan-India presence in the domestic formulation business.
This will also help in expanding Coromandel’s scale, accelerating its entry into the contract manufacturing business, fast-tracking new product commercialisation and expanding its product portfolio.
NACL Industries operates technical and formulation plants in Andhra Pradesh, besides having centralised R&D facility near Hyderabad. NACL’s subsidiary has also recently invested in technical grade facility at Dahej, capable of manufacturing Active Ingredients.
Also Read: Coromandel International Q2 Results | Agro firm’s net profit rises 12%, revenue up 6%
It has established formidable partnerships with key global players, offering contract manufacturing services for over two decades. The company has a strong brand presence in the domestic formulations segment with a pan-India footprint.
JM Financial Limited acted as exclusive financial advisor to Coromandel for this transaction and is also the Manager to open offer. AZB & Partners acted as the company’s Legal Counsel, E&Y acted as financial diligence and tax diligence advisor, and SSPA & Co. Chartered Accountants acted as independent valuers.
Shares of Coromandel International Ltd ended at ₹1,758.00, up by ₹34.60, or 2.01%, on the BSE.
Also Read: NCLT extends deadline for final ₹4,500 crore leg of Reliance Capital resolution
First Published: Mar 12, 2025 9:46 PM IST
