Deepak Fertilisers raises open offer price for acquiring 26% stake in MCFL

Deepak Fertilisers & Petrochemicals has raised the open offer price to Rs 63 per share, aggregating Rs 194.12 crore, for acquiring another 26 per cent stake in Vijay Mallya-promoted Mangalore Chemicals and Fertilizers (MCFL). Earlier as on April 23, 2014, company’s - wholly owned subsidiary - SCM Soilfert (SSL), had acquired 10,01,309 equity shares of face value of Rs 10 each representing 0.84% of share capital of MCFL. Consequent to the said purchase, SSL now holds 2,99,92,459 equity shares i.e. 25.31% in MCFL. Deepak Fertilisers & Petrochemicals is one of the leading manufacturers of industrial chemicals and fertilisers in India. The company operates in three business segments - chemicals, fertilisers and real estate.