Description

Coromandel International Limited makes a cash offer at INR 76.70 per share to acquire up to 26% of NACL Industries Limited's voting share capital.

Summary

Coromandel International Limited has launched an open offer to acquire up to 5,24,62,320 equity shares (26% of voting share capital) of NACL Industries Limited at INR 76.70 per share. This takeover offer is made in compliance with SEBI (SAST) Regulations following CCI approval received on July 1, 2025.

Key Points

  • Offer price: INR 76.70 per equity share (face value INR 1 each)
  • Maximum shares to be acquired: 5,24,62,320 equity shares (26% of voting share capital)
  • Acquirer: Coromandel International Limited (CIN: L24120TG1961PLC000892)
  • Target Company: NACL Industries Limited (CIN: L24219TG1986PLC016607)
  • Non-conditional offer under SEBI (SAST) Regulations
  • Not subject to minimum acceptance level
  • CCI approval already obtained on July 1, 2025
  • Proportionate acceptance if oversubscribed

Regulatory Changes

This offer is made pursuant to Regulation 3(1) and Regulation 4 of SEBI (SAST) Regulations. The transaction has received required statutory approval from Competition Commission of India.

Compliance Requirements

  • Public shareholders of NACL Industries can tender their shares during the tendering period
  • Letter of Offer and Form of Acceptance-cum-Acknowledgement will be sent to public shareholders
  • Shareholders who have sold shares should hand over documents to stock exchange members
  • If oversubscribed, acceptance will be on proportionate basis

Important Dates

  • CCI approval date: July 1, 2025
  • Tendering period: To be announced in detailed offer documents

Impact Assessment

This high-value takeover offer represents a significant corporate action that will impact NACL Industries shareholders. The offer provides an exit opportunity at INR 76.70 per share and may lead to change in control structure of the target company. Shareholders need to evaluate the offer price against current market value and future prospects.

Impact Justification

Major takeover offer affecting public shareholders with significant financial implications