Coromandel International Limited has informed the Exchange regarding a press release dated August 08, 2025, titled "Press Release - Coromandel International completes acquisition of 53% controllingstake in NACL Industries".
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Coromandel International has formally closed the Share Purchase Agreement to acquire a 53% controlling stake in NACL Industries Limited, an established agrochemical company founded in 1993. NACL is now a subsidiary of Coromandel, and three new directors — Mr. Natarajan Srinivasan, Mr. S Sankarasubramanian, and Dr. Raghuram Devarakonda — have joined the NACL board. Dr. Raghuram Devarakonda, formerly Executive Director at Coromandel, has been appointed as Managing Director & CEO of NACL. An open offer to buy an additional 26% from public shareholders is ongoing under SEBI Takeover Regulations, which could raise Coromandel's total holding to 79%. The deal strengthens Coromandel's position in India's agri-solutions space, complementing its existing fertiliser and crop protection businesses.
This is a strategic expansion for Coromandel, giving it control of NACL's agrochemical portfolio including active ingredients, formulations, and a nationwide retail brand network. Shareholders may view this positively as it diversifies revenue streams, though the open offer for additional 26% will involve further cash outflow. Expect short-term governance changes at NACL and potential consolidation benefits in the medium term.