Zuari Agro Chemicals transfers 2.90 crore MCFL shares to Zuari Maroc Phosphates for ₹144 per share, marking “Effective Date I” of the NCLT-approved composite scheme.
Major share transfer completed
Zuari Agro Chemicals Limited (ZACL) has successfully completed the transfer of 2,90,37,000 equity shares of Mangalore Chemicals & Fertilizers Limited (MCFL) to Zuari Maroc Phosphates Private Limited (ZMPPL).
Each share was transferred at ₹144.00, bringing the total deal value to ₹418.13 crore.
This transaction marks “Effective Date I” under a composite scheme of arrangement involving MCFL and Paradeep Phosphates Limited (PPL).
The National Company Law Tribunals (NCLT) approved the scheme earlier, and both MCFL and PPL have filed Form INC-28 to confirm the effective date.
Zuari Agro Chemicals: Key transaction details
| Aspect | Details |
|---|---|
| Shares Transferred | 2,90,37,000 MCFL equity shares |
| Recipient | Zuari Maroc Phosphates Private Limited (ZMPPL) |
| Price per Share | ₹144.00 |
| Total Value | ₹418.13 crore |
| Regulatory Filing | Form INC-28 by MCFL and PPL |
| Disclosure | SEBI (LODR) Regulation 30 compliance |
Why this matters
This transaction is a key step in the Adventz Group’s restructuring plan, with several implications:
For Zuari Agro Chemicals: The ₹418.13 crore inflow strengthens cash reserves for debt repayment, working capital, and future investments.
For Zuari Maroc Phosphates: Acquiring this stake consolidates its position in India’s fertilizer value chain.
For MCFL: A new shareholding pattern may lead to strategic realignments and operational synergies with PPL.
What investors should watch
Next phases of the scheme: Look for further effective dates or regulatory updates.
Use of funds: Market observers will track how ZACL deploys ₹418 crore — whether toward debt reduction or expansion.
Governance changes at MCFL: Any board reshuffle may indicate new strategic directions.
Integration with PPL: Collaboration could improve efficiency and profitability.
Regulatory compliance
The transaction aligns with NCLT-approved guidelines and SEBI Listing Obligations (Regulation 30).
ZACL has maintained transparency through timely disclosures and statutory filings, ensuring regulatory clarity for investors.
Bottom line
The ₹418.13 crore share transfer from Zuari Agro Chemicals to Zuari Maroc Phosphates marks a major milestone in Adventz Group’s restructuring.
It enhances ZACL’s financial strength, positions ZMPPL for growth, and sets the stage for a more efficient fertilizer business ecosystem.
As India’s fertilizer sector transforms, such strategic moves could reshape competition and improve industry performance.
Sources : ScanX
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