Zuari Fertilisers has acquired 4.14 million shares representing 3.5% of total equity capital of Mangalore Chemicals and Fertilisers (MCFL) for about Rs 25 crore, taking its stake to over 13% and became the third largest shareholder in the UB Group Company.
Saroj Poddar-led Zuari had first acquired nearly 10% stake in MCFL for Rs 44.3 crore in April, while Deepak Fertilisers picked up 24.46% of equity for Rs 179 crore from open market last week.
As on March 2013, the promoters including United Breweries Holdings held 22% stake in the company.
Mangalore Chemicals & Fertilizers (MCF) is the only manufacturer of chemical fertiliser in state of Karnataka. This Karnataka based company is Rs 1625 crore enterprise that manufactures products such as urea, di-ammonium phosphate, muriate of potash, granulated fertilizers, micronutrients, soil conditioners and specialty fertilizers.
