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Pune-based Deepak Fertilisers and Petrochemicals Corporation Ltd (DFPCL) has acquired 2,89,91,150 equity shares of face value Rs 10 each, representing 24.46 per cent of share capital of Mangalore Chemicals and Fertilisers Ltd.
The transaction, valued at Rs 179 crore, was effected through SCM Soilfert Ltd, a wholly-owned subsidiary of DFPCL. BSE bulk deal data on Wednesday showed the company paid Rs 61.75 a share.
The acquisition will help DFPCL widen its portfolio of fertilisers and chemicals, and bring in additional capacity for urea as well as complex fertilisers such as NPK and DAP.
The company, which is primarily as manufacturer of nitrophosphates and NPK, is also expanding its capacity at its Taloja plant from 2.3 lakh tonnes to six lakh tonnes over the next two years.
The financial outlay is around 360 crore and will be raised through a mix of debt and equity.
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