JM Financial Ltd ("Manager to the Open Offer") has submitted to BSE a copy of Corrigendum to the Public Announcement, Detailed Public Statement and Draft Letter of Offer for the attention ....
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Coromandel International Limited (the Acquirer) is making an open offer to buy up to 5,24,62,320 equity shares (26% of voting capital) of NACL Industries Limited from public shareholders under SEBI takeover rules. This filing is a corrigendum (correction/update) to the earlier public announcement (March 12), detailed public statement (March 19), and draft letter of offer (March 27, 2025). The key update is that the old Share Subscription and Shareholders Agreement dated February 8, 2019 between the promoters and the company has been terminated, with the termination taking effect on the closing date of the promoter share sale. All other terms of the offer remain unchanged. JM Financial is managing the offer and KFin Technologies is the registrar.
Public shareholders of NACL Industries should review the corrigendum carefully as it confirms the termination of the old shareholders' agreement alongside the ongoing open offer. The price and structure of the offer remain unchanged, but the termination removes an existing agreement that governed promoter-investor relations, which could affect governance dynamics post-acquisition.