Coromandel International Limited has acquired an additional 0.67% stake in NACL Industries Limited through participation in the company's rights issue, as disclosed in regulatory filings submitted to stock exchanges on January 4, 2026.

Acquisition Details

The acquisition involved 1,88,24,301 equity shares completed on December 31, 2025, through subscription to the rights issue including additional shares. As the promoter of NACL Industries, Coromandel International's participation demonstrates continued commitment to the target company.

Shareholding Changes

The transaction resulted in a marginal increase in Coromandel's ownership percentage in NACL Industries. The company's shareholding position shows steady promoter participation in the rights offering.

Regulatory Compliance

The disclosure was filed under Regulation 10(6) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The acquisition was made pursuant to exemption provided under Regulation 10(4)(a) and (b), which covers rights issue subscriptions by existing shareholders.

Exchange Listings

Both companies are listed on BSE Limited and National Stock Exchange of India Limited. Coromandel International trades under symbol COROMANDEL (NSE) and scrip code 506395 (BSE), while NACL Industries trades under symbol NACLIND (NSE) and scrip code 524709 (BSE), ensuring proper regulatory oversight of the transaction.

Transaction Impact

The acquired shares represent a significant absolute number but resulted in only a marginal percentage increase due to the overall expansion of NACL Industries' share capital through the rights issue. The acquisition reinforces Coromandel's position as the promoter while maintaining compliance with all applicable regulations.

NACL Industries has received a formal request for promoter group re-classification under SEBI Listing Regulations on December 18, 2025. Algavista Greentech Private Limited (AGPL) has sought re-classification from the promoter and promoter group category to public category, citing changes in its shareholding structure.

Background of Re-classification Request

The re-classification request stems from a significant change in AGPL's ownership structure. E.I.D.-Parry (India) Limited (EID), which was part of NACL Industries' promoter group, has reduced its shareholding in AGPL from 50.00% to nil holdings. This change occurred following the sale of EID's stake in AGPL to its joint venture partner, Synthite Industries Private Limited.

Regulatory Compliance and Justification

AGPL has confirmed that it no longer falls under the definition of promoter group as specified in regulation 2(pp) of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has provided comprehensive confirmations under Regulation 31A(3)(b) of the SEBI Listing Regulations, stating that neither AGPL nor any person related to it:

• Holds more than 10.00% of total voting rights in NACL Industries
• Exercises control over company affairs directly or indirectly
• Has special rights through formal or informal arrangements
• Is represented on the board of directors
• Acts as key managerial personnel
• Is classified as willful defaulter or fugitive economic offender

Current Shareholding Status

As per the disclosure, AGPL's current shareholding position in NACL Industries stands at nil, effectively making this a technical de-classification rather than a traditional re-classification.

Next Steps and Regulatory Process

NACL Industries will place the re-classification request before its Board of Directors as stipulated under Regulation 31A(3) of the SEBI Listing Regulations. Following board approval, the company will submit an application seeking no-objection from both National Stock Exchange of India Limited and BSE Limited. AGPL has committed to providing all necessary information and documents to facilitate the re-classification process and comply with ongoing regulatory requirements.

The re-classification, once approved, will result in AGPL's removal from NACL Industries' promoter group list, reflecting the changed ownership dynamics following the stake sale by E.I.D.-Parry (India) Limited.