Himadri Speciality Chemical Limited has announced the acquisition of Elixir Carbo Private Limited in a cash deal worth ₹7.5 crore. The deal, which is expected to be completed within 30 days from the date of signing the share purchase agreement, will result in Himadri acquiring a 100% stake in the target entity.
Elixir Carbo, incorporated on July 27, 2022, is engaged in the manufacturing and trading of all grades of naphthalene and its derivative products. For the financial year ended March 31, 2024, the company reported a turnover of ₹11.4 crore. This acquisition is expected to align with Himadri’s core business of extracting high-value-added products from coal tar distillates, thereby strengthening its product portfolio and enhancing vertical integration.
The acquisition does not fall under related party transactions, and no regulatory approvals are required for completion.
Meanwhile, shares of Himadri Speciality Chemical Limited closed higher in Monday’s session, reacting positively to the announcement and ongoing momentum from its Q4 earnings.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.