Mangalore Chemicals & Fertilizers Limited (MCFL) has successfully completed its merger with Paradeep Phosphates Limited (PPL), marking a significant development in the Indian fertilizer industry. The merger, which became effective on October 16, 2025, is part of a composite scheme of arrangement that sees MCFL being dissolved without winding up.

Key Details of the Merger

• Effective Date: October 16, 2025
• Appointed Date: April 1, 2024
• Record Date: October 31, 2025

Share Allotment Ratio

The board of Paradeep Phosphates has established a share allotment ratio for MCFL shareholders:

For every 100 fully paid-up equity shares of INR 10 each held in MCFL, shareholders will receive 187 fully paid-up equity shares of INR 10 each in Paradeep Phosphates.

Implications for Shareholders

Shareholders of Mangalore Chemicals & Fertilizers Limited on the record date of October 31, 2025, will be eligible for the share allotment in Paradeep Phosphates. This merger is expected to create a stronger entity in the fertilizer sector, potentially benefiting from synergies and expanded market presence.

Regulatory Compliance

The merger process has been carried out in compliance with the Securities and Exchange Board of India (SEBI) regulations. MCFL has made the necessary disclosures under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

Conclusion

The completion of this merger marks a significant corporate action in the fertilizer industry. Shareholders and market participants will be observing how this consolidation impacts the operations and market position of the merged entity in the coming months.

Mangalore Chemicals & Fertilizers Limited (MCFL) has undergone a significant change in its ownership structure as Zuari Agro Chemicals Limited (ZACL) reduced its shareholding as part of a composite scheme of arrangement. The transaction took place on October 13, 2025, marking a notable shift in MCFL's ownership.

Key Details of the Transaction

Composite Scheme of Arrangement

The sale is part of a larger corporate restructuring involving:

• Mangalore Chemicals & Fertilizers Limited
• Paradeep Phosphates Limited
• Their respective shareholders and creditors

This off-market transfer is in accordance with and forms an integral part of the composite scheme of arrangement between these entities.

Regulatory Compliance

ZACL has made the necessary disclosure under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulatory filing ensures transparency in the significant change in shareholding.

Impact on MCFL's Structure

The transaction represents a substantial change in MCFL's ownership structure. While ZACL remains a significant shareholder, its controlling stake has been reduced. This move could potentially impact the strategic direction and governance of MCFL going forward.

Scheme Implementation Progress

According to the LODR data:

• The certified copies of sanction orders from the National Company Law Tribunal (NCLT) Bengaluru Bench and NCLT Cuttack Bench have been e-filed with the respective Registrars of Companies.
• October 13, 2025, has been declared as 'Effective Date 1' for the purposes of the scheme.
• The amalgamation of MCFL with Paradeep Phosphates Limited is set to become effective on 'Effective Date 2', which is defined as three days from 'Effective Date 1'.

Market Implications

This significant reduction in ZACL's stake in MCFL may lead to changes in the market perception of both companies. Investors and market analysts will likely be watching closely for any subsequent strategic moves or operational changes resulting from this restructuring.

The completion of this transaction marks a crucial step in the ongoing corporate restructuring process involving these major players in the agrochemical and fertilizer sector. As the scheme progresses towards its final stages, further developments are anticipated, which could reshape the competitive landscape in this industry.