Coromandel Chemicals Limited (CCL), a wholly-owned subsidiary of Coromandel International Limited, has executed a joint venture agreement with Sakarni Plaster (India) Private Limited.
Key details of the Joint Venture:
- The JV is being set up for the manufacture and sale of Phospho-Gypsum based products.
- It aims to capitalize on the rapidly expanding gypsum plaster market and establish a new category of Phospho-Gypsum-based plasters and products in India and export markets.
- CCL will hold a 60% equity shareholding in the JV.
- Sakarni group will hold a 40% equity shareholding.
- CCL's capital contribution towards the proposed JV will be up to ₹59 crore, to be made in one or more tranches.
- This JV follows an earlier disclosure dated April 30, 2025, regarding equity infusion in CCL for exploring such joint venture opportunities as part of a diversification and long-term strategy.