Bodal Chemicals To Increase Stake In TCPL
Bodal Chemicals Limited is planning to take stake up to 59% in TCPL by acquiring new equity shares in TCPL. Bodal Chemicals Limited (BCL) had already acquired approx 42% stake in Trion Chemicals Private Limited (TCPL). Details of the same are mentioned in the disclosure below:
|Name of the target entity, details in brief such as Size, Turnover etc.||TRION CHEMICALS PRIVATE LIMITED (TCPL) is manufacturing Speciality chemicals and the turnover of the Company for the FY 2017-18 was Rs.1047.77 lakhs.|
|Whether the acquisition would fall within related party transaction(s) and whether the promoter/ Promoter group/ group companies have any interest in the entity being acquired? If yes, nature of Interest and details thereof and whether the same is done at "arms length"|
Bodal Chemicals Limited already hold approx 42% stake in TCPL and TCPL is Associate Company of Bodal Chemicals Limited.
Now, Bodal Chemicals Limited is planning to acquire more stake and make (TCPL) subsidiary company of Bodal Chemicals Limited.
Further, promoter/ Promoter group/ group companies do not have any interest in the entity (TCPL) being acquired.
|Industry to which the entity being acquired belongs||Speciality Chemicals for water treatment used in Swimming pools also used as a bleaching agent in the textile industry.|
|Objects and effects of acquisition(including but not limited to, the disclosure of reasons for the acquisition of target entity, if its business is outside the main line of business of the listed entity)||The object of acquisition by the company is for Expansion and diversification in the business of Speciality Chemicals sector apart from Dyes and Dye Intermediates. This will further open new wings and a new line of activity for the company.|
|Brief details of any governmental or regulatory approvals required for the acquisition.||Not- required|
|The indicative time period for completion of the acquisition|
Before End of June 30, 2018.
Bodal Chemicals Limited had already acquired approx. 42% in the TCPL.
|Nature of consideration - whether cash consideration or share swap and details of the same;||Cash|
|Cost of acquisition or the price at which the shares are acquired;||Rs.29.86 Million|
|Percentage of shareholding / control acquired and / or number of Shares acquired;||After new acquisition, the stake of Bodal Chemicals Limited will be 59% in entity i.e. Trion Chemicals Private Limited|
|Brief background about the entity acquired in terms of products/ line of business acquired, date of incorporation, history of last 3 years turnover, a country in which the acquired entity has a presence and any other significant information (in brief);|
Date of Incorporation: 29th April 2009.
The Company has completed commissioning of Speciality Chemicals plant and started manufacturing TCCA (Trichloroisocyanuric Acid). This is the first plant in INDIA having Export as well as Domestic market potential. The company is targeting mainly USA market and had already acquired EPA license in USA for environment protection.
Location of Manufacturing unit is Village -Neja, Nr. Khambhat, Gujarat.
Turnover of the Company:
FY 2017-18: 1047.77 lakhs
FY 2016-17: 58.53 lakhs
FY 2015-16: NIL