Acquisitions18 Oct 2025, 04:34 pm
Chemcon Speciality Chemicals Acquires Shivam Petrochem Industries for INR 36 Crores
AI Summary
Chemcon Speciality Chemicals Ltd has entered into a Slump Sale Agreement with Shivam Petrochem Industries, a related party, for the sale of business by Shivam Petrochem Industries for a lump sum consideration of INR 36,00,00,000 (Rupees Thirty Six Crores only). The acquisition was approved by the Board of Directors on August 5, 2025, and by the members at the 36th Annual General Meeting held on September 11, 2025.
Key Highlights
- Chemcon Speciality Chemicals is acquiring Shivam Petrochem Industries for INR 36 Crores
- The acquisition was approved by the Board of Directors and the members at the Annual General Meeting
- The transaction is a slump sale agreement
- Shivam Petrochem Industries is a related party and a part of the Promoter Group
- The acquisition is subject to the approval of members