STEL holdings acquires stake in PCBL chemical for Rs 33.6 crores

STEL Holdings Limited announced the acquisition of 1,200,000 fully paid-up equity shares of PCBL Chemical Limited. The shares, with a face value of Re. 1/- each, were acquired at a price of Rs. 280/- per share, totaling an investment of Rs. 33.6 crores. This transaction was executed through the exercise of an option for the conversion of warrants previously allotted to STEL Holdings on a preferential basis. The acquisition, completed on November 3, 2025, represents 1.043% of PCBL Chemical Limited's post-issue paid-up share capital.

The acquisition is classified as a related party transaction, with STEL Holdings falling under the promoter group for PCBL Chemical Limited. However, the company confirmed the transaction was conducted on an arm's length basis and complies with relevant sections of the Companies Act, 2013, and SEBI Regulations. PCBL Chemical Limited operates in the chemical industry and plans to use the issue proceeds for debt repayment, working capital, and general corporate purposes.

PCBL Chemical Limited, incorporated on March 31, 1960, has a strong manufacturing presence across India and has expanded its footprint through its WOS, PCBL (TN) Limited. The company reported consolidated revenue from operations of Rs. 8404 crores for FY 2024-25, showing significant growth from Rs. 5774 crores in FY 2022-23 and Rs. 6420 crores in FY 2023-24.