Coromandel International Limited has completed the share issuance process for its joint venture company Stuccoedge India Private Limited (SIPL), marking a significant step in the company's expansion into gypsum-based building materials. The development was communicated to stock exchanges through a regulatory filing under SEBI Regulation 30.

Joint Venture Structure and Investment Details

The joint venture has been structured through Coromandel's wholly owned subsidiary Coromandel Chemicals Limited (CCL), which has partnered with Sakarni Plaster (India) Private Limited. The share allocation reflects a strategic partnership arrangement between the two entities.

Business Scope and Product Portfolio

Stuccoedge India Private Limited will operate in the gypsum-based building materials sector, focusing on manufacturing and marketing a comprehensive range of products. The company's business model encompasses the entire value chain from manufacturing to distribution.

Key Product Categories:

• Gypsum plaster and ready-mix plaster
• Wall putty and gypsum boards
• Blocks, tiles, and panels
• Ceiling systems and partition systems
• Other derivatives from natural gypsum, phospho-gypsum, and synthetic gypsum

Corporate Structure and Timeline

SIPL was incorporated on November 24, 2025, and is classified as a related party of Coromandel Chemicals Limited. The joint venture partner operates through its special purpose vehicle, Sakarni Chemical India Private Limited, ensuring a structured corporate framework.

Strategic Implications

The joint venture represents Coromandel International's strategic entry into the building materials sector, specifically targeting the growing market for gypsum-based construction products. The partnership leverages CCL's operational capabilities while benefiting from Sakarni's specialized expertise in plaster products.

The company has confirmed that no additional governmental or regulatory approvals are required for this acquisition, and the transaction has been completed as per the agreed timeline. SIPL will focus on processing, formulating, designing, developing, assembling, packaging, trading, marketing, distributing, importing, and exporting gypsum-based building materials.

Coromandel International executed a notable block trade on the National Stock Exchange (NSE), with the transaction involving a substantial volume of shares and significant monetary value. The block trade represents institutional or bulk trading activity in the fertilizer sector company's stock.

Transaction Details

The block trade involved specific parameters that highlight the scale of the transaction:

Market Significance

Block trades typically indicate institutional investor activity or large-scale portfolio adjustments by major stakeholders. The transaction price of ₹2,300.10 per share reflects the market valuation at the time of execution. Such trades are executed outside the regular market hours or through special trading windows to minimize market impact.

The deal size of ₹20.84 crores represents a meaningful transaction in Coromandel International's stock, which operates in the fertilizer industry. Block trades of this magnitude often attract attention from market participants as they can provide insights into institutional sentiment regarding the company's prospects.