JM Financial Ltd has submitted to the Exchange a copy of Pre-offer advertisement in accordance with Regulation 18(7) of the SEBI ( SAST) Regulations, 2011, as amended, and corrigendum to the public announcement and detailed public statement for the attention of the public shareholders of the compan
NACLIND · price
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Coromandel International Limited is making a mandatory open offer to acquire up to 5,24,62,320 equity shares (26% of voting share capital) of NACL Industries Limited from public shareholders at ₹76.70 per share. The underlying transaction has already been completed on August 8, 2025, with Coromandel acquiring 52.98% (10,69,07,146 shares) from promoters and tag holders, making NACL a subsidiary of Coromandel and triggering a change of control. The tendering period runs from August 22, 2025 to September 8, 2025. The Independent Directors Committee considers the offer fair and reasonable, but notes that the closing market price on July 28, 2025 was ₹279.29 per share, significantly higher than the offer price of ₹76.70. CCI approval was received on July 1, 2025, and ₹401 crore has been deposited in the escrow account.
Public shareholders should note that the offer price of ₹76.70 is well below the recent market price of ₹279.29, so tendering shares may not be financially attractive unless market prices decline. The acquisition marks a change of control with Coromandel (a Murugappa Group company) becoming the new promoter, which could bring strategic benefits but also uncertainty for existing shareholders.