Harvesting Synergies: Coromandel's Strategic Stake in NACL

Coromandel International Limited has sanctioned the purchase of a 53.13% holding in NACL Industries Limited, which consists of 10,68,96,146 equity shares. The transaction is worth around ₹820 crores, with a price of ₹76.7 per share. The move is strategic in nature and is intended to strengthen Coromandel's presence in the agrochemical space by tapping into NACL's strength in active ingredients for insecticides and fungicides. The move is in alignment with Coromandel's ambition to grow crop protection and it is anticipated that it will deliver synergies with its fertilizer and specialty nutrients operations.

 

Source: nsearchives.nseindia