Coromandel International share price rose as much as 3.5 per cent to ₹2,351.40 apiece on NSE in Thursday’s trading session after Competition Commission of India (CCI) gave its approval for its series of transaction.
The agrochemical company stock has ascended over 18 per cent in six months and nearly 48 per cent in one year.
Coromandel International’s new business updates
The Competition Commission of India (CCI) has approved a set of transactions that will allow Coromandel International Ltd, part of the Murugappa Group, to acquire a controlling stake in NACL Industries Limited, a publicly listed agrochemical company, for ₹820 crore.
Under the approved arrangement, Coromandel will purchase 10,68,96,146 equity shares—equivalent to 53.13% of NACL’s total paid-up equity capital—from KLR Products Limited, promoter K. Lakshmi Raju, and Bright Town Investment Advisor Pvt Ltd, as outlined in a promoter share purchase agreement (SPA).
In addition, Coromandel will acquire 5,500 equity shares each from two public shareholders—Krishi Rasayan Exports Pvt Ltd and Agro Life Science Corporation—through separate SPAs dated March 12, 2025.
With CCI’s clearance, Coromandel also plans to initiate an open offer to acquire up to an additional 26% stake from public shareholders, in line with SEBI’s takeover guidelines.
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