KLR Products Limited has Submitted to the Exchange a copy of Disclosure under Regulation 29 (2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
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KLR Products Limited, acting in concert with Coromandel International Limited, has sold its entire holding of 11,36,23,500 shares (56.41%) in NACL Industries Limited through an off-market sale on August 8, 2025. Following this transaction, KLR Products holds 0% in NACL Industries. Coromandel International has acquired 10,68,96,146 shares, representing 53.13% of the company's equity capital, and is not part of the promoter group. This filing is a Regulation 29(2) disclosure under SEBI's Takeover Regulations, triggered by the substantial size of the acquisition.
This is a major change in the controlling shareholder of NACL Industries, with Coromandel International (a Murugappa Group company) becoming the new majority owner. Shareholders should expect potential strategic shifts, possible re-rating, and near-term stock volatility as the market digests the new ownership structure. Investors should watch for any open offer obligation or further corporate actions from Coromandel.