Zuari Agro Chemicals Limited has informed the Exchange about General Updates

On July 28, 2025, Zuari Agro Chemicals' board approved a securities subscription agreement and an inter-se agreement involving its 50:50 joint venture Zuari Maroc Phosphates Private Limited (ZMPPL) and partner OCP S.A. of Morocco. Under the deal, the company will subscribe to non-voting compulsorily convertible preference shares (CCPS) in ZMPPL for up to Rs. 180 crores in cash, with OCP subscribing to an equal number of CCPS. Post-subscription, both Zuari Agro and OCP will continue to hold 50% each in ZMPPL. The investment is linked to the earlier scheme of arrangement between Mangalore Chemicals & Fertilizers (MCFL) and Paradeep Phosphates Limited (PPL), with ZMPPL being designated as the sole vehicle for further acquisitions of PPL securities. OCP's subscription is subject to approval from the Morocco Foreign Exchange Office, and the long-stop date for completion is 100 days from execution.