Coromandel International has approved an investment in equity shares of its subsidiary, NACL Industries, up to ₹250 Crores through a rights issue. The company will subscribe to its full rights entitlement and additional shares if available. Additionally, Coromandel plans to establish a wholly-owned subsidiary in the Philippines, with an investment of up to USD 200,000. Senior management changes have also been noted.
NACL Industries Investment
Coromandel International will be investing in the equity shares of its subsidiary, NACL Industries Limited. The investment will be made through a rights issue, with Coromandel’s board approving a subscription up to ₹250 Crores. This includes subscribing to the full extent of the company’s rights entitlement. The board has delegated authority to a committee to oversee the Rights Issue terms and conditions.
Philippines Subsidiary Establishment
The company is also moving forward with establishing a wholly-owned subsidiary in the Philippines. The investment value for this new venture is projected to be up to USD 200,000. Further details regarding this expansion will be provided in due course.
Senior Management Personnel Changes
There have been changes noted in the senior management personnel of Coromandel International. Mr. Prameet Kamat has been designated as Senior Management Personnel due to organizational changes, effective December 1, 2025. He is currently the Executive Vice President & Business Head for Crop Protection Business.
Additionally, Mr. Sharad Gururaj Kalghatgi has also been designated as Senior Management Personnel due to organizational changes, effective December 1, 2025. He is currently the Vice President – Environment Health and Safety.
Source: BSE
