The Exchange has received the disclosure under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Zuari Agro Chemicals Ltd & PACs
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Zuari Agro Chemicals Ltd, along with its Persons Acting in Concert (PACs), has been allotted 6,54,33,846 equity shares of Paradeep Phosphates Ltd (PPL) on 3rd December 2025 as part of the merger of Mangalore Chemicals & Fertilizers Ltd (MCFL) into PPL. This allotment is against the 3,49,91,362 MCFL shares previously held by Zuari Agro, issued per the share exchange ratio under the Composite Scheme of Arrangement. Following this, Zuari Agro and its PACs now hold 6.30% of PPL's expanded share capital, which has grown to Rs 1,037.96 crore (103.79 crore shares) from Rs 816.34 crore pre-merger. Zuari Agro is part of PPL's promoter group, and a corresponding portion of the newly allotted PPL shares will be under pledge as per the scheme terms.
This is a passive, scheme-driven acquisition — the promoter group's stake of 6.30% in PPL arises only because their MCFL shares converted into PPL shares under the merger. For retail investors, this is largely administrative and not indicative of a fresh market purchase; share dilution from the merger is reflected in the expanded capital base.