Chemcon finalizes INR 36 crore acquisition of promoter group firm

Chemcon Speciality Chemicals Limited announced on December 25, 2025, the completion of its slump sale acquisition of Shivam Petrochem Industries. This follows previous disclosures on August 5, 2025, and October 18, 2025, regarding the approval and subsequent agreement for the transaction.

The company confirmed the payment of a lump-sum consideration of INR 36,00,00,000 to Shivam Petrochem Industries for the business undertaking. The acquisition was approved by Chemcon's Board of Directors on August 5, 2025, and by its members at the 36th Annual General Meeting on September 11, 2025.

All conditions stipulated under the Slump Sale Agreement have been fulfilled, including the transfer of the undertaking as a going concern, thereby completing the transaction.