Stel Holdings Limited has informed the Exchange about General Updates regarding acquisition of securities of PCBL Chemical Ltd issued on exercise of option for conversion of warrants
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Awaiting price reaction for this filing.
STEL Holdings Limited has acquired 12,00,000 (twelve lakh) fully paid-up equity shares of PCBL Chemical Limited at Rs. 280 per share, issued upon exercise of conversion of warrants earlier allotted to STEL on a preferential basis. The total consideration works out to about Rs. 33.6 crore. Post this acquisition, STEL's holding in PCBL Chemical stands at approximately 1.043% of the post-issue paid-up share capital. STEL is part of the promoter group of PCBL Chemical, making this a related party transaction, though executed at arm's length. PCBL Chemical, incorporated in 1960 (formerly Phillips Carbon Black), is India's largest carbon black manufacturer with a consolidated turnover of Rs. 8,404 crore in FY25.
This is a pre-committed warrant conversion by an existing promoter-group entity, not a fresh market purchase, so it is unlikely to move PCBL's stock price on its own. For STEL Holdings, it deepens its investment exposure to PCBL Chemical and signals continued promoter-group support, including for debt repayment and working capital needs of the target.