NACL Industries Limited has informed the Exchange about the re-classfication of the Promoters .
NACLIND · price
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Coromandel International Limited (CIL) has completed the acquisition of 10,68,96,146 equity shares (53.13% of total share capital) in NACL Industries, becoming the new promoter of the company with effect from August 8, 2025. The acquisition was made under Share Purchase Agreements dated March 12, 2025, from the erstwhile promoters KLR Products Limited, K. Lakshmi Raju, and Bright Town Investment Advisor Private Limited, who have now been reclassified as public shareholders. The board was reconstituted with six new directors, including Dr. Raghuram Devarakonda as the new Managing Director & CEO (3-year term) and S.R. Batliboi & Associates LLP replacing B S R & Co as statutory auditor. Ten existing directors stepped down, and the previous auditor resigned citing independence concerns arising from the ownership change.
This is a significant change of control event, with NACL Industries now becoming part of the Murugappa Group (via Coromandel International). Shareholders may benefit from potential synergies, stronger governance, and better access to capital, though the stock could see short-term volatility as the market digests the new ownership structure.