Chemcon Completes INR 36 Crore Acquisition of Shivam Petrochem
Filing Summary
Chemcon Speciality Chemicals Ltd has completed the acquisition of the entire business undertaking of M/s. Shivam Petrochem Industries. The transaction, valued at INR 36 crore, was executed through a slump sale agreement. The acquisition was approved by Chemcon’s Board of Directors and shareholders, with all conditions and actions under the agreement fulfilled. This acquisition involves a related party transaction as Shivam Petrochem is part of Chemcon’s promoter group. The completion of this transaction was disclosed under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
On December 25, 2025, Chemcon Speciality Chemicals Ltd announced the completion of its acquisition of the entire business undertaking of M/s. Shivam Petrochem Industries. This acquisition was executed through a slump sale agreement for a lump sum consideration of INR 36,00,00,000 (Rupees Thirty-Six Crores only).
The proposal for this acquisition was initially approved by Chemcon’s Board of Directors on August 5, 2025. Subsequently, the shareholders of Chemcon approved the transaction during the 36th Annual General Meeting held on September 11, 2025. The slump sale agreement between Chemcon and Shivam Petrochem was signed on October 18, 2025.
The transaction involved a related party, as Shivam Petrochem Industries is a partnership firm within Chemcon’s promoter group. All conditions precedent and actions required under the slump sale agreement have been fulfilled, including the transfer of the business undertaking as a going concern. The completion of this transaction was disclosed in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The acquisition of Shivam Petrochem Industries is part of Chemcon’s strategic business activities. The company focuses on manufacturing specialized chemicals, including pharmaceutical intermediates and oilfield chemicals. Chemcon aims to enhance its operational capabilities and expand its market presence through strategic acquisitions and partnerships.