Excel Crop Care merger with Sumitomo Chemical India will be like house of fire!
In June 2016, the promoter group of Excel Crop Care Ltd , the Shroff family, had entered into a definitive agreement to sell its 24.75% stake in the agro-chemicals firm to Sumitomo Chemical Company Ltd for ₹343 crore, Sumitomo Chemical also acquired around 19.98% in Excel Crop from private financial services firm Ratnabali Group (Public Shareholder of Excel Crop Care) for around ₹ 263 crore. These deals were struck at ₹1,259.36 a share, thus valuing Excel Crop at around ₹1,386 crore. Moving on, Sumitomo Chemical Company (PAC) made an open offer to buy additional 30% stake in Excel Crop care through its Indian WoS Sumitomo Chemical India Private Limited, in which actuals were amounting to ₹277.29 Crore resulting in acquisition of 19.98% stake of ₹5/- per share at a premium of ₹1254.76. Excel Crop Care Limited (ECCL) was incorporated in the year 2003 from a demerger of the agricultural inputs portfolio of Excel Industries Limited with the strength of three manufacturing unit...