Manali Petrochemicals Finalizes Rs. 247 Crore Subsidiary Sale to COIM
Filing Summary
Manali Petrochemicals Limited has completed the sale of its wholly owned step-down subsidiary, Notedome Limited, to C.O.I.M. S.p.A. for approximately Rs. 247 crores. The transaction, finalized on November 17, 2025, is part of Manali Petrochemicals’ strategic portfolio restructuring to focus on its core polyols business in India. All necessary regulatory approvals were secured following the Share Purchase Agreement announced in October 2025. Manali Petrochemicals will continue to market its cast elastomers in India under a new trademark as part of the agreement.
Manali Petrochemicals Limited has completed the sale of its wholly owned step-down subsidiary, Notedome Limited, to C.O.I.M. S.p.A. The transaction was finalized on November 17, 2025, following the receipt of the final consideration from the buyer. This divestment marks the cessation of Notedome Limited as a wholly owned step-down subsidiary of Manali Petrochemicals.
The sale was executed for a total consideration of approximately Rs. 247 crores. The financial terms were confirmed with the receipt of the final payment by AMCHEM Specialty Chemicals Private Limited, the holding company of Notedome Limited. The transaction aligns with Manali Petrochemicals’ strategic decision to restructure its portfolio, focusing on its core businesses related to the polyols product portfolio and derivatives within the Indian market.
As part of the agreement, Manali Petrochemicals will continue to market its cast elastomers in India under a new trademark. This ensures the company maintains its presence in the Indian market while divesting from its UK-based operations. The strategic move allows Manali Petrochemicals to concentrate its resources on high-growth market segments, including automotive, cold chain, construction, footwear, and propylene glycol derivatives.
The divestment is part of Manali Petrochemicals’ broader strategy to optimize its portfolio and focus on sectors with robust and scalable demand. The company aims to strategically allocate its capital, talent, and R&D efforts towards these segments. The transaction also provides Manali Petrochemicals with the flexibility to pursue further global mergers and acquisitions in more aligned sectors.
All necessary regulatory approvals for the transaction were secured following the announcement of the Share Purchase Agreement on October 20, 2025. The completion of the sale was confirmed with the transfer of the entire stake held by AMCHEM, SG, in Notedome Limited to C.O.I.M. S.p.A.
C.O.I.M. S.p.A., headquartered in Buccinasco, Milan, is an international chemical group specializing in the production of polyesters, polyurethanes, and specialty resins. The acquisition of Notedome Limited strengthens C.O.I.M.’s international presence in the polyurethane systems sector and expands its product and service capabilities in key European markets.
Manali Petrochemicals Limited is a leading petrochemical manufacturer based in Chennai, India. The company markets propylene glycol and polyols and is part of the Singapore-headquartered AM International Group. Manali Petrochemicals focuses on enhancing its customer-centric approach towards product customization and upgrading safety and environmental standards for community betterment.