Stock Report

PCBL Ltd to acquire Aquapharm Chemicals PVt Ltd for Rs. 3800 crores

Posted On : 2023-11-28 15:49:12( TIMEZONE : IST )

PCBL Ltd to acquire Aquapharm Chemicals PVt Ltd for Rs. 3800 crores

The Board of Directors of PCBL Limited ("the Company"), has at the Meeting held on 28 November 2023, in-principle approved the acquisition, directly or through one of its affiliates, of 212,172 shares of Aquapharm Chemicals Private Limited ("ACPL"), for an aggregate consideration of INR 3,800 crores (subject to agreed adjustments) representing 100% of the issued and paid-up share capital (on a fully diluted basis) of ACPL ("Proposed Transaction").

In furtherance of such approval, the Company has executed a share purchase agreement dated 28 November 2023 ("SPA") with ACPL, Mr. Vimal V. Mangwani, Mr. Dharmesh Mangwani, Mr. Nitin Raojibhai Desai and other shareholders of ACPL, for undertaking the Proposed Transaction, subject to inter alia obtaining all necessary approvals and fulfillment of other customary conditions, as per the terms and conditions specified in the SPA.

The Proposed Transaction shall be financed through a mix of internal accruals and external fund raise by the Company and/or its affiliates/associates. This acquisition of ACPL marks Company's foray into global specialty segments of Water treatment Chemicals and Oil & Gas Chemicals and it is the first milestone in achieving the vision of creating a multi-platform global specialty chemical business portfolio.

Source : Equity Bulls


PCBL Acquisition AquapharmChemicals WaterTreatmentChemicals OilandGasChemicals