Quest Capital Markets Limited has acquired a 0.23% stake in PCBL Chemical Limited, India's largest carbon black manufacturer, through the conversion of warrants. This move strengthens Quest Capital Markets' position within the PCBL promoter group and provides PCBL with additional capital for debt repayment and working capital needs.

Transaction Details

About PCBL Chemical Limited

PCBL Chemical Limited, established in 1960, has a rich history in the chemical industry. The company has expanded its manufacturing footprint across India with facilities in West Bengal, Gujarat, Kerala, and Tamil Nadu.

Transaction Implications

1. Related Party Transaction: Quest Capital Markets falls under the promoter group of PCBL Chemical Limited, making this a related party transaction conducted on an arm's length basis.

2. Use of Proceeds: The funds raised will be utilized for debt repayment of PCBL and its subsidiaries, as well as for working capital and general corporate purposes.

3. Regulatory Compliance: The transaction complies with relevant sections of the Companies Act, 2013, and applicable SEBI regulations.

4. Strategic Growth: This acquisition aligns with PCBL's business requirements and growth objectives, potentially strengthening its market position in the chemical industry.

Industry Context

PCBL Chemical Limited operates in the chemical industry, with a focus on carbon black manufacturing. The company's recent acquisition of Aquapharma Chemical has also positioned it as a significant player in the performance chemicals space, particularly in phosphonate production.

This transaction reflects ongoing consolidation and strategic investments within India's chemical sector, as companies seek to strengthen their market positions and financial capabilities in a competitive global environment.

Conclusion

The acquisition by Quest Capital Markets Limited demonstrates continued confidence in PCBL Chemical Limited's growth prospects. As PCBL expands its operations and diversifies its product portfolio, this infusion of capital could play a crucial role in supporting its strategic initiatives and maintaining its leadership position in the carbon black market.

Quest Capital Markets Limited , formerly known as BNK Capital Markets Limited, has announced the appointment of Ms. Dhara Agarwal as an Additional Director in the Non-Executive Independent category. This strategic move, approved by the company's Board of Directors, aims to strengthen the corporate governance structure of the organization.

Key Appointment Details

Professional Background

Ms. Agarwal brings a wealth of experience to her new role:

• Education: B.Com degree, Qualified Company Secretary, MBA in Finance
• Experience: Over 15 years in various corporate domains
• Expertise Areas:
  • Corporate and Secretarial Affairs
  • Corporate Compliance
  • Due Diligence
  • CSR Activities
  • Tax Audit
  • Drafting legal documents

Appointment Process and Compliance

The appointment of Ms. Agarwal was made based on the recommendation of the Nomination and Remuneration Committee. Quest Capital Markets has confirmed that Ms. Agarwal meets all eligibility criteria for the position of Independent Director as per applicable statutes.

Importantly, the company has affirmed that Ms. Agarwal is not debarred from holding the office of Director by any order from SEBI or any other authority, in compliance with BSE Circular LIST/COMP/14/2018-19 dated June 20, 2018.

Corporate Governance Implications

This appointment underscores Quest Capital Markets' commitment to maintaining a robust and diverse board composition. The addition of Ms. Agarwal, with her extensive experience in corporate affairs and compliance, is expected to contribute significantly to the company's governance practices and strategic decision-making processes.

The appointment is subject to shareholder approval, reflecting the company's adherence to regulatory requirements and commitment to transparency in corporate actions.

Quest Capital Markets Limited, listed on the BSE, continues to evolve its leadership structure to meet the dynamic challenges of the financial markets sector. This appointment marks another step in the company's ongoing efforts to enhance its corporate governance framework and bring diverse perspectives to its board.