STEL Holdings Acquires 12 Lakh Shares in PCBL for Rs 33.6 Crore
Filing Summary
STEL Holdings Limited has acquired 12,00,000 equity shares in PCBL Chemical Limited at a price of Rs 280 per share, for a total cash consideration of Rs 33.6 crore. The acquisition was executed through the conversion of warrants previously allotted on a preferential basis. This transaction, classified as a related-party dealing conducted at arm’s length, gives STEL Holdings a 1.043% stake in PCBL’s post-issue share capital. PCBL intends to use the proceeds for debt repayment, working capital, and general corporate purposes. The acquisition was completed on November 03, 2025.
STEL Holdings Limited has acquired 12,00,000 fully paid-up equity shares of PCBL Chemical Limited. The acquisition was made by exercising an option to convert warrants that were previously allotted to the company on a preferential basis. This transaction results in STEL Holdings Limited holding 1.043% of the post-issue paid-up share capital of the target company.
The shares, with a face value of Re. 1 each, were acquired at a price of Rs 280 per equity share. The total consideration for the acquisition was paid in cash. The filing confirms this is a related party transaction, as STEL Holdings Limited is part of the Promoter Group of PCBL Chemical Limited. The transaction was conducted on an arm’s length basis and is in compliance with the applicable provisions of the Companies Act, 2013 and relevant SEBI Regulations.
The target entity, PCBL Chemical Limited, operates in the Chemical Industry and was incorporated on March 31, 1960. The company is a manufacturer of carbon black with production facilities located in Durgapur, Palej, Mundra, Kochi, and Chennai. The company also has a presence in the performance chemicals sector through its acquisition of Aquapharma Chemical. PCBL Chemical Limited has a business presence in India, North America, Australia, and Europe.
The proceeds from the issue are intended to be used by PCBL Chemical Limited for several purposes. These include debt repayment for the company and its subsidiaries, funding working capital requirements, and for general corporate purposes. The filing states that these funds will support the target company in meeting its business requirements and pursuing its growth objectives.
The indicative time period for the completion of the acquisition was November 03, 2025. According to the regulatory disclosure, no specific governmental or regulatory approvals were required for this acquisition. The warrants were originally allotted with a period of 18 months from the date of allotment for the exercise of the conversion option.
PCBL Chemical Limited is a manufacturer of carbon black and performance chemicals. The company’s consolidated revenue from operations for the financial year 2022-23 was Rs 5774 crore. For the financial year 2023-24, the revenue was Rs 6420 crore, and for the financial year 2024-25, it was reported as Rs 8404 crore. The company utilizes waste gases from its manufacturing processes for power generation as part of its sustainability initiatives.
STEL Holdings Limited operates primarily as an investment holding company. The company’s main business activity involves holding long-term strategic investments in a portfolio of companies, including entities within its promoter group. Its investment activities are a core part of its corporate strategy.