Deepak Fertilisers & Petrochemicals Corporation’s wholly owned subsidiary SCM Soilfert has acquired 2,89,91,150 equity shares of face value of Rs 10 each representing 24.46% of share capital of Mangalore Chemicals & Fertilisers. The company has acquired the said stake from Delhi-based Burman family and Sundaram BNP and DSP Blackrock mutual funds.
Mallya’s UB Group holds 21% in Mangalore Chemicals, which has been considered a non-core asset for his beer-to-airline enterprise, while Zuari Fertiliser holds a little over 10% in Mangalore Chemicals.
Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments - chemicals, fertilisers and real estate.