JM financial Ltd has submitted to the Exchange a copy of letter of offer
NACLIND · price
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Coromandel International Limited (Acquirer) has issued the Letter of Offer for a mandatory open offer to acquire up to 5,24,62,320 equity shares (26% of voting share capital) of NACL Industries Limited at INR 76.70 per share. This open offer is triggered under SEBI Takeover Regulations following Coromandel's underlying share purchase agreements with the promoters (KLR Products Limited) and tag holders to acquire ~53% stake, with the promoter sale completed on August 8, 2025. The Competition Commission of India approved the deal on July 1, 2025. The tendering period runs from August 22, 2025 to September 8, 2025, with payment expected by September 22, 2025. JM Financial is managing the offer and KFin Technologies is the registrar.
NACL Industries shareholders can tender shares at INR 76.70 during the offer window if they wish to exit. Post-offer, Coromandel will gain majority control of NACL Industries, which could lead to potential synergy benefits but also carries risks of reduced public float and liquidity in the stock.