Chemcon acquires promoter group business for INR 36 crores

Chemcon Speciality Chemicals Limited disclosed its acquisition of the entire business undertaking of M/s. Shivam Petrochem Industries, a partnership firm within its promoter group, for a lump sum consideration of INR 36,00,00,000 (Rupees Thirty Six Crores). This transaction was formalized today, October 18, 2025, through a slump sale agreement.

The board of directors initially considered and approved this acquisition on August 5, 2025. Subsequently, the company's members formally approved the material related party transaction at the 36th annual general meeting held on September 11, 2025. This acquisition involves a related party and is structured as a slump sale on a going concern basis.

Shahilkumar Kapatel, company secretary & compliance officer, signed the disclosure, which was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information has been submitted to both BSE Limited and the National Stock Exchange of India Limited.