The Competition Commission of India (CCI) has granted approval for a series of transactions enabling Coromandel International Ltda Murugappa Group company, to acquire a majority stake in NACL Industries Limiteda listed agrochemical firm for ₹820 crore.
As per the approved deal structure, Coromandel will acquire 10,68,96,146 equity shares, representing 53.13% of NACL’s paid-up equity share capital. These shares are being purchased from KLR Products Limited, K. Lakshmi Raju (a promoter), and Bright Town Investment Advisor Pvt Ltd, under the terms of a promoter share purchase agreement (SPA).
Additionally, Coromandel will acquire 5,500 equity shares each from two public shareholders: Krishi Rasayan Exports Pvt Ltd and Agro Life Science Corporation, under separate SPAs dated March 12, 2025.
Following the CCI’s green light, Coromandel also intends to launch an open offer to acquire up to 26% additional stake from public shareholders, in accordance with SEBI’s takeover regulations.
This strategic move aligns with Coromandel’s long-term vision to diversify into adjacent agricultural solutions businesses, reinforcing its leadership in the crop protection and agri inputs ecosystem.
NACL, a listed entity, operates in the agrochemical sector, offering a wide range of crop protection products and active ingredients. Coromandel International Ltd. (CIL) is a leading agri solutions provider, operating in two major segments — nutrient & allied businesses, and crop protection.
In March 2025, Coromandel announced its plan to acquire a 53% majority stake in NACL Industries for a total consideration of ₹820 crore. The acquisition is expected to expand Coromandel’s scale and product portfolio.
Shares of Coromandel International Ltd ended at ₹2,271.85, down ₹53.10, or 2.28%, on the BSE.
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