Coromandel International Limited has successfully completed the acquisition of a majority stake in NACL Industries Limited, marking a significant expansion in the agrochemical sector. The company announced the completion of the transaction on August 8, 2025, which involved the purchase of 10,69,07,146 equity shares, representing a 53.08% stake in NACL Industries.

Key Highlights of the Acquisition

Transaction Details

The acquisition was executed through multiple share purchase agreements dated March 12, 2025, involving various parties:

1. KLR Products Limited (Promoter Seller)
2. Mrs. Kanumuru Lakshmi Raju (Promoter)
3. Bright Town Investment Advisor Private Limited (Promoter Group Party)
4. Krishi Rasayan Export Private Limited
5. Agro Life Science Corporation

Implications and Corporate Changes

As a result of this acquisition, Coromandel International has become the 'promoter' of NACL Industries, effective August 8, 2025. This change in ownership structure has led to some corporate restructuring within Coromandel International:

• Director Resignation: Dr. Raghuram Devarakonda (DIN: 09749805) has resigned from his position as Executive Director – CPC, Bio & Retail of Coromandel International, effective immediately.
• Board Nomination: Dr. Devarakonda's resignation is in view of his nomination to the Board of NACL Industries Limited, as per the terms of the Share Purchase Agreement.

Regulatory Compliance

The transaction was completed in accordance with the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Coromandel International has duly informed the stock exchanges about the completion of the acquisition and the subsequent changes in its corporate structure, adhering to the disclosure requirements under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This strategic acquisition is expected to strengthen Coromandel International's position in the agrochemical industry, potentially leading to synergies and expanded market presence.

Coromandel International , a leading fertilizer and crop protection company, has reached a significant milestone in its acquisition plans for NACL Industries Limited. The company announced that it has received final comments from the Securities and Exchange Board of India (SEBI) on its Draft Letter of Offer for an open offer to acquire a substantial stake in NACL Industries.

Open Offer Details

The open offer aims to acquire up to 5,24,62,320 fully paid-up equity shares of NACL Industries Limited, representing 26.00% of the voting share capital. These shares have a face value of INR 1.00 each. This move signifies Coromandel International's intent to strengthen its position in the agrochemical sector.

Regulatory Approval

SEBI issued its final comments on the Draft Letter of Offer on August 5, 2025, under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This approval marks a crucial step forward in the acquisition process, allowing Coromandel International to proceed with the open offer.

Next Steps

Following SEBI's comments, Coromandel International has stated that it will take further steps as recommended by the regulatory body. The company will adhere to the requirements outlined in the SEBI Takeover Regulations for the open offer process.

Disclosure and Compliance

In line with regulatory requirements, Coromandel International has promptly disclosed this development to the stock exchanges. The company's Company Secretary & Compliance Officer, B Shanmugasundaram, submitted the disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Market Impact

This open offer, if successful, could significantly alter the ownership structure of NACL Industries Limited and potentially impact the competitive landscape in the agrochemical industry. Investors and market watchers will likely keep a close eye on the developments as Coromandel International moves forward with the acquisition process.

As the situation unfolds, stakeholders will be keen to see how this potential acquisition aligns with Coromandel International's long-term strategy and what it might mean for the future of both companies in the agricultural inputs sector.