Chemcon Speciality Chemicals Limited has informed the Exchange about Acquisition
CHEMCON · price
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On the reaction day the stock moved 3.0 pts less than Nifty Microcap 250 and 2.4 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Chemcon Speciality Chemicals has approved the acquisition of the entire business undertaking of M/s. Shivam Petrochem Industries, a partnership firm that is part of the company's promoter group, via a slump sale on a going concern basis. The total lump-sum consideration will not exceed INR 100 crore, payable in cash through banking channels. Shivam Petrochem, incorporated in 2002, operates in the chemicals and chemical products space and reported a turnover of INR 26.46 crore in FY25 (up sharply from INR 9.55 crore in FY24 and INR 3.27 crore in FY23). The transaction, classified as a related party deal since promoter Kamalkumar Aggarwal holds 42.50% in the target, has been confirmed as arm's length. The deal is subject to shareholder approval and is expected to close by December 31, 2025, with no government or regulatory approvals required.
The acquisition strengthens Chemcon's core chemicals business with a complementary going concern at a modest valuation (~3.8x FY25 revenue). However, since the target is a promoter group entity, minority shareholders should watch for fairness of the INR 100 crore price tag and vote carefully on the related party resolution at the shareholder meeting.