Zuari Agro Chemicals is reportedly planning to sell 16% stake in Mangalore Chemicals & Fertilizers’ shares to Vijay Mallya By December. Mallya is expecting decent returns on Mangalore Chemicals’ stake. Mallya’s UB Group is the promoter of Mangalore Chemical, holding 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.
Zuari Agro Chemicals (erstwhile Zuari Holdings) constitutes the fertiliser operations of the Adventz Group following the demerger of Zuari Industries. It is a part of the K K Birla Group.
