The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Zuari Agro Chemicals Ltd
Awaiting price reaction for this filing.
Zuari Agro Chemicals Ltd, a promoter of Mangalore Chemicals & Fertilizers Ltd (MCFL), sold 2,90,37,000 equity shares (24.50% of share capital) on October 13, 2025, through an off-market transfer. The sale was part of a composite scheme of arrangement involving MCFL, Paradeep Phosphates Ltd, and their respective shareholders and creditors. After this transaction, Zuari Agro's holding in MCFL has dropped from 6,40,28,362 shares (54.03%) to 3,49,91,362 shares (29.53%). The disclosure was made under Regulation 29(2) of SEBI Takeover Regulations, 2011. The equity share capital of MCFL remains unchanged at Rs 1,18,51,51,500 divided into 11,85,15,150 equity shares.
This is a major reshuffle of the promoter group's holding — the promoter has gone from being a majority owner (54%) to a minority shareholder (29.53%), which changes the control dynamics of MCFL. Investors should watch for further clarity on the composite scheme and the new shareholder structure, as this kind of restructuring often signals a significant corporate realignment rather than a routine transaction.