Tata Chemicals bolsters position with Rs 208 Crore acquisition of Rallis India shares
Tata Chemicals has made a significant investment by acquiring 97 lakh shares of its subsidiary, Rallis India, for Rs 208 crore through a block deal. This move has resulted in Tata Chemicals raising its stake in Rallis India to 55.04%, marking a 5% increase. Rallis India is a key player in agri inputs, engaged in the manufacturing, distribution, and marketing of crop protection and nutrition products, as well as field crop and seeds.
Rallis India recently reported a slight dip in net profit, amounting to Rs 63 crore in the June quarter, compared to Rs 67 crore in the same period last year. Similarly, its total income declined to Rs 765 crore from Rs 867 crore during the corresponding period of the previous year.
Tata Chemicals’ strategic acquisition of Rallis India shares underscores its commitment to the agrochemicals sector and may open up new growth opportunities for both companies. As the deal unfolds, industry observers will closely monitor its impact on the chemicals and agro-inputs sectors, potentially reshaping the market landscape.