Coromandel International announces open offer for NACL Industries shares

Coromandel International (BSE: COROMANDEL) announced on March 13, 2025, a public offer to acquire up to 52,462,320 equity shares of NACL Industries, representing 26.00% of its voting share capital. The offer price is INR 76.70 per share, totaling a maximum consideration of INR 4,023,859,944, assuming full acceptance. This move follows share purchase agreements involving promoter KLR Products Limited and Tag Holders for an underlying transaction worth INR 8,199,778,098. The Acquirer intends to become a promoter of NACL Industries. The open offer is unconditional regarding the minimum acceptance level, pending regulatory approvals and specified agreement conditions. JM Financial Limited is managing the offer. The detailed public statement will be published by March 20, 2025.