Coromandel International Limited has informed the Exchange about General Updates
COROMANDEL · price
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Coromandel International (CIL) has been allotted 1,88,24,301 equity shares of its listed subsidiary NACL Industries Limited (NACLIND) under NACL's Rights Issue at Rs. 76.70 per share (including Rs. 75.70 premium). CIL subscribed to its full Rights Entitlement as well as additional and unsubscribed shares, taking its total cash investment to roughly Rs. 144.4 crore. Following this allotment, CIL's shareholding in NACL Industries has risen from 53.06% to 53.73%, increasing its stake from about 10.69 crore shares to 12.57 crore shares. NACL is an agrochemical company (crop protection chemicals, pesticides, formulations) with standalone turnover of Rs. 1,251.89 crore in FY25, which has been declining from Rs. 2,116 crore in FY23. The shares will be credited to CIL's demat account in line with SEBI timelines.
This is an internal capital allocation by CIL into its subsidiary rather than a market-moving event. For CIL shareholders, it means a marginal increase in ownership of NACL and a cash outflow of about Rs. 144 crore, with no change in overall consolidated earnings beyond the small rise in subsidiary stake.