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Gujarat Apollo Industries completes sale of entire stake in Credo Advanced Chemicals

07 Oct 2026 Evaluate

Gujarat Apollo Industries has executed and completed the sale of its entire shareholding comprising 1,34,40,000 equity shares of Rs 10 each, representing 17.92% of the equity share capital of Credo Advanced Chemicals (CACL) (formerly known as Credo Mineral Industries), an unlisted company.

The shares have been sold for an aggregate consideration of Rs 37.63 crore. Accordingly, the company no longer holds any shareholding in CACL. Deloitte Touche Tohmatsu India LLP acted as exclusive advisor to the company for this transaction. 

Gujarat Apollo Industries is primarily engaged in the manufacturing of different types of Mining & Road Construction and Maintenance Machineries catering to the needs of the majority of the mining companies in India and many parts of the world.


Peers
Company Name CMP
Bharat Heavy Elect. 434.70
Thermax 3270.50
Kirloskar Industries 3399.90
Skipper 520.95
INDO-MIM 1165.40
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