PCBL intends to pay Rs 3,800 crore to purchase Aquapharm Chemicals

 PCBL intends to pay Rs 3,800 crore to purchase Aquapharm Chemicals

The firm notified the stock market that the purchase would be funded by the company and its partners via a combination of internal accruals and external fundraising, subject to approved modifications.

PCBL intends to pay Rs 3,800 crore to purchase Aquapharm Chemicals.

Majority shareholder PCBL Ltd, which produces specialized chemicals and carbon black, stated on November 28 that it will buy all of Aquapharm Chemicals Pvt Ltd (ACPL) for a total of Rs 3,800 crore. The firm notified the stock market that the purchase would be funded by the company and its partners via a combination of internal accruals and external fundraising, subject to approved modifications.

According to the business, the purchase represents PCBL's debut into the international specialized markets for chemicals used in oil and gas production and water treatment. It said that a mix of external money raising and internal accruals will be used to finance the deal.

Based in Pune, ACPL is one of the top three specialized chemical manufacturers in the world as well as a leader in water treatment chemicals. The United States, Saudi Arabia, and India are home to the company's production sites. Subsidiaries manage the operations of the foreign factories.

The 2022–2023 ACPL had a topline of Rs 2,045 crore and an EBIDTA of Rs 417 crore. The purchase is contingent upon obtaining all required approvals. On the NSE, the stock finished at Rs 254.90, down 2.6%.