Coromandel International Increases Stake in Subsidiary NACL Industries to 53.73% via Rights Issue
Coromandel International Limited (CIL) has increased its shareholding in its listed subsidiary, NACL Industries Limited (NACLIND), following the latter's Rights Issue. CIL subscribed to 1,88,24,301 fu...
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Why is Coromandel International Limited in the news today?
Coromandel International Limited (COROMANDEL) is in the news due to the company has successfully increased its stake in a subsidiary through a rights issue, which is generally viewed positively as it strengthens control and potential future earnings from the subsidiary.
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Coromandel International Increases Stake in Subsidiary NACL Industries to 53.73% via Rights Issue
December 31, 2025, 02:50 PM
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Coromandel International Limited (CIL) has increased its shareholding in its listed subsidiary, NACL Industries Limited (NACLIND), following the latter's Rights Issue. CIL subscribed to 1,88,24,301 fully paid-up Equity Shares of face value Rs. 1 each at an issue price of Rs. 76.70 per share.
This allotment, which includes subscription to Rights Entitlement and additional shares, has raised Coromandel International's stake in NACL Industries from 53.06% to 53.73%. Consequently, CIL's holding in NACL Industries has grown from 10,69,12,581 equity shares to 12,57,36,882 equity shares.
NACL Industries, a player in the agrochemical sector, manufactures crop protection technicals and formulations. For the financial year ended March 31, 2025, NACL Industries reported a standalone turnover of Rs. 1251.89 crore and a consolidated turnover of Rs. 1,234.52 crore. The investment was made in cash, and the shares will be credited to Coromandel International's demat account within the timelines prescribed by SEBI.
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