Coromandel International gains on getting nod to acquire 17.69% stake in BMCC
Coromandel International is currently trading at Rs. 2444.90, up by 6.05 points or 0.25% from its previous closing of Rs. 2438.85 on the BSE.
The scrip opened at Rs. 2472.95 and has touched a high and low of Rs. 2483.00 and Rs. 2433.60 respectively. So far 3728 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2649.95 on 02-May-2025 and a 52 week low of Rs. 1545.50 on 08-Oct-2024.
Last one week high and low of the scrip stood at Rs. 2483.00 and Rs. 2300.85 respectively. The current market cap of the company is Rs. 71906.55 crore.
The promoters holding in the company stood at 56.90%, while Institutions and Non-Institutions held 30.13% and 12.97% respectively.
Coromandel International has received approval for acquisition of 17.69% of issued share capital of Baobab Mining and Chemicals Corporation (BMCC) from existing shareholder of BMCC, at a consideration of $7.70 million by the company’s wholly owned subsidiary -- Coromandel Chemicals (CCL). This will result in an increase in stake held by CCL from the current 53.82% to 71.51%. CCL will be executing the necessary agreements with respect to the above transactions. The Board of Directors of the company in their meeting held on July 24, 2025 have approved the same.
In addition, board approved capital expenditure plans for setting up a bagging plant at Kakinada as a part of granulation capacity expansion.
Coromandel International is India’s pioneers and leading agri-solutions provider, offering diverse products and services across the farming value chain. The company is in the business segments of Fertilizers, Specialty Nutrients, Crop Protection and Retail.
