Promoter Amlika Mercantile to Exit Nagarjuna Fertilizers and Chemicals

Amlika Mercantile Private Limited (AMPL), a promoter of Nagarjuna Fertilizers and Chemicals Ltd, has decided to exit its investments in the bulk fertiliser sector, which includes its holdings in the company. AMPL offered to sell its entire holding of 29,60,72,140 shares to Krishak Bharati Cooperative Limited (KRIBHCO) and Saipem S.p.A (Saipem), promoters of the company, twice on an as is where is basis and on an as is what is basis. However, KRIBHCO and Saipem did not express their interest for the initial and the last formal offer for sale of shares of the company. As a result, AMPL plans to dispose all or part of the shares it holds in the company as it deems fit or proper in accordance with law.