Shree Pushkar Chemicals and Fertilisers has received approval for investment up to Rs 30 crore for acquisition/takeover of 100% stake in Madhya Bharat Phosphates (MBPL) under the Insolvency & Bankruptcy Code 2016. The proposal has already been approved by the Committee of Creditors (COC) for an offer price of Rs19.02 crore and the proposal is under final consideration before NCLT. The Board of Directors of the company at its meeting held on March 15, 2019, approved the same.
The Unit of MBPL located in MP, has two plants at Jhabua and Deewanganj, has a capacity of manufacture SSP of 1.5 lakh MTA and 0.4 lakh MTA, respectively and a Plant for a manufacture of LABSA. The Board has also approved a proposal of acquiring an additional plot of land in MIDC, Lote Parshuram, Ratnagiri in state of Maharashtra, admeasuring 34,408 Sq.Mts. for further expansions.
Shree Pushkar Chemicals and Fertilisers is engaged in manufacturing and trading activities of dyes intermediates. It offers dyestuffs, dye Intermediates, sulphur base acids, animal feed additives manufactured, reactive dyes, oleum acids and chloro sulphonic acid.
| Company Name | CMP |
|---|---|
| Sudarshan Chemicals | 874.00 |
| Bodal Chemicals | 67.59 |
| Shree Pushkar Chem | 347.25 |
| Kiri Industries | 419.00 |
| Ultramar & Pigments | 418.95 |
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