Chemcon Speciality Chemicals Limited has announced the successful completion of its acquisition of the entire business undertaking of M/s. Shivam Petrochem Industries, a partnership firm and a related party. The acquisition was approved by the Board of Directors on August 5, 2025, and subsequently by the members at the 36th Annual General Meeting held on September 11, 2025. A Slump Sale Agreement was executed on October 18, 2025, with Shivam Petrochem Industries for a lump sum consideration of ₹36,00,00,000 (Rupees Thirty-Six Crores). Further to previous disclosures, the company has made the full payment of the lump-sum consideration. All conditions precedent and actions contemplated under the Slump Sale Agreement have been fulfilled, including the transfer of the business undertaking as a going concern. The transaction has now been consummated and stands completed.
