Coromandel International Ltd Acquires 60% Stake in Stuccoedge India Private Limited Through Joint Venture

Coromandel International Ltd has acquired a 60% stake in Stuccoedge India Private Limited (SIPL) through its Wholly Owned Subsidiary (WOS), Coromandel Chemicals Limited (CCL). The Joint Venture is with Sakarni Plaster (India) Private Limited (Sakarni) for the manufacture and sale of Phospho-Gypsum based Products. The total investment for the acquisition is Rs. 10,00,000, with Rs. 6,00,000 by CCL and Rs. 4,00,000 by Sakarni Chemical India Private Limited, a Special Purpose Vehicle of Sakarni. SIPL will carry on the business of manufacturing, processing, formulating, designing, developing, assembling, packaging, trading, marketing, distributing, importing, exporting, and dealing in all kinds of gypsum-based building materials and products.