DCM Shriram said that its board has approved definitive agreements to be entered into for acquiring 100% equity share capital of Hindusthan Speciality Chemicals for a total consideration of Rs 375 crore.
Hindusthan Speciality Chemicals is engaged in the business of manufacturing and distributing solid and liquid epoxy resin, reactive diluents, formulated epoxy resin and formulated curing agents. The company had recorded a turnover of Rs 274.7 crore in FY25.
DCM Shriram stated that this acquisition would mark the entry of the chemicals business of the company in the epoxy & advanced materials space, as a downstream integration of epichlorohydrin (ECH).
It further said that no major Governmental or Regulatory approvals are required for the said acquisition, excepting certain approvals of local industrial and other authorities.
Hindusthan Speciality being material subsidiary of Hindusthan Urban Infrastructure (HUIL), a company listed on the BSE, sale of shares by HUIL would require approval of its shareholders by way of special resolution in terms of listing regulations.
The acquisition is expected to be completed by September 2025, subject to the fulfilment of conditions specified in definitive agreements.
This acquisition builds on DCM Shriram’s earlier announcement in February 2024, committing Rs 1,000 crore for the establishment of its epoxy and advanced materials business under the chemicals strategic business unit (SBU).
Source: Business-Standard