Coromandel's ₹820 Crore Crop Conquest: NACL Stake Secured

Coromandel International has signed agreements to acquire a 53% stake in NACL Industries from KLR Products for ₹820 crore. As per SEBI Takeover Regulations, Coromandel will also make an open offer to acquire up to 26% of NACL’s equity share capital from public shareholders. The transaction is subject to regulatory approvals and is expected to close in the coming months.

NACL, a leading crop protection company, has a strong branded formulation business in India, exports technicals globally, and provides contract manufacturing services to multinational agrochemical firms.

This acquisition strengthens Coromandel’s presence in the Indian crop protection market, enhancing its scale and accelerating its entry into contract manufacturing. NACL operates technical and formulation plants in Andhra Pradesh and has an R&D facility near Hyderabad. Additionally, its subsidiary has invested in a technical-grade facility in Dahej to manufacture Active Ingredients.

JM Financial advised Coromandel on the deal and is managing the open offer, while AZB & Partners provided legal counsel. E&Y conducted financial and tax diligence, and SSPA & Co. Chartered Accountants served as independent valuers.

News by Rahul Yelligetti.