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Deepak Fertilisers plans to sell its stake in MCF: Report

19 Mar 2015 Evaluate

Deepak Fertilisers and Petrochemicals Corporation is reportedly planning to sell its stake in Mangalore Chemicals and Fertilizers (MCF). The open offer from the Saroj Poddar-promoted Zuari group has got an approval from the Securities and Exchange Board of India (SEBI). The Competition Commission of India (CCI)’s nod is pending. Deepak Fertilisers has approached Zuari to sell shares in its favour as it no longer sees any merit to pursue the battle for control of MCF.

Deepak Fertilisers and Petrochemicals Corporation is one of the leading manufacturers of industrials chemicals and fertilizers in India. The company operates in three business segments – Chemicals, Fertilizers and Realty.

Peers
Company Name CMP
Godrej Industries 984.15
SRF 2473.10
BASF India 3377.05
Pidilite Inds. 1476.25
Tata Chemicals 637.70
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