BASF India Limited has concluded the sale of its entire 100% stake in BASF India Coatings Private Limited to entities affiliated with the Carlyle Group for INR 230.16 crore. The transaction, which was determined by an Independent Valuer, was completed on June 30, 2026, upon receipt of the consideration. Consequently, BASF India Coatings Private Limited has ceased to be a wholly owned subsidiary of BASF India Limited.

The divestment involved the transfer of the entire equity shares to Bond German BidCo 2 GmbH and Bond France BidCo SAS. This move follows the Board of Directors' decision communicated to the stock exchanges on March 30, 2026. The completion of this carve-out marks the transition of the coatings business into an independent entity named Surventis, which launched operations on July 01, 2026.

Surventis is backed by global investment firm Carlyle in partnership with Qatar Investment Authority, with BASF retaining a 40% stake in the new entity. The company generated sales of about €3.9 billion in 2025 and employs around 10,700 people. It positions itself among the world's leading suppliers of automotive coatings and surface treatment solutions.

Strategic Focus and Operations

Surventis will operate with a focus on reliability, quality, service, and performance. The company serves more than 42,000 customers across over 140 countries from a network of more than 30 production and development sites. Its headquarters in Muenster, Germany, hosts the world's largest integrated paint manufacturing site.

The portfolio spans well-known brands such as Chemetall®, Glasurit®, and R-M®. Surventis will continue to develop, produce, and market coatings and surface treatment solutions for industrial, automotive, and refinish customers worldwide.

Leadership and Ownership

Surventis is led by Chief Executive Officer Jens Luehring. The Executive Committee includes Chief Financial Officer Michael Pontzen and Chief Transformation Officer Ewout van Jarwaarde. Other key leaders include Nils Lessmann, Frank Naber, Patrick Zhao, and Steve Arndt.

BASF India Limited shareholders have approved the Scheme of Arrangement to demerge its agricultural solutions business into a separate listed entity, BASF Agricultural Solutions India Limited. The resolution was passed during a court-convened meeting held on June 24, 2026, via video conferencing. This approval allows the chemical company to proceed with the corporate restructuring plan sanctioned by the National Company Law Tribunal (NCLT), facilitating the creation of pure-play agricultural solutions companies with better strategic focus.

The meeting was convened pursuant to NCLT orders dated March 20, 2026, and April 8, 2026. The tribunal's directives were issued under Company Scheme Application no. CA(CAA)/28/MB-I/2026. The notice for the meeting was dated May 21, 2026. The special resolution received the requisite majority, with 99.99% of valid votes cast in favour.

Voting Results

A total of 35,661,485 votes were polled, representing 82.39% of the outstanding shares. The resolution secured overwhelming support across all categories.

Strategic Rationale

The presentation made during the meeting highlighted that the Total Agricultural Solutions Business of BASF India Limited recorded sales of INR 1944cr and a Profit Before Tax of INR 254cr for 2025-26. The company noted that 12 new products were launched in India since 2022, which constitute approximately 25% of sales in 2025-26. The restructuring aims to manage the business with industry-tailored KPIs, implement a dedicated ERP system, and form pure-play Agricultural Solutions companies.

Key Meeting Details

The disclosure was submitted to BSE Limited in compliance with Regulation 30 of the SEBI Listing Regulations. Manohar Shrikant Kamath, Director – Legal, General Counsel (India) & Company Secretary, and Pankaj Rajkumar Bahl, Senior Manager- Legal & Secretarial, signed the filing.