+
Rossari Biotech plans to acquire Tristar Intermediates for Rs 120 cr
Products

Rossari Biotech plans to acquire Tristar Intermediates for Rs 120 cr

Rossari Biotech Limited, a specialty chemicals manufacturer, told the media that it has agreed to acquire Tristar Intermediates Pvt Ltd for Rs 120 crore in multiple tranches.

Rossari Biotech said that the acquisition will occur in multiple tranches.

It will acquire a 76% equity stake of Tristar by September this year, as part of the first tranche, and the remaining will be acquired by the financial ending March 31, 2025.

As part of its inorganic growth plan, the acquisition is in line with Rossari Biotech's strategy to set its place in specialty chemicals manufacturing.

Tristar allows synergies in manufacturing and marketing that can be highly valued accretive in the long run.

Tristar is involved in the manufacture and trade of organic and inorganic chemicals and was incorporated on September 1, 1997.

It has three manufacturing plants with a capability of 15,000 million tonnes per annum (MTPA).

It had registered a turnover of Rs 110.5 crore in the last financial year 2020-21 against Rs 95.2 crore in the prior fiscal year.

Rossari Biotech announced last month that it will buy Unitop Chemicals Private for Rs 421 crore in an all-cash deal.

Marking its first initial public offering (IPO) since India went into a lockdown in late March to manage the pandemic, Rossari went public in July last year.

Before that, the company had raised Rs 100 crore by allocating shares to eight institutional investors in a pre-initial public offering (IPO) round.

Image Source

Rossari Biotech Limited, a specialty chemicals manufacturer, told the media that it has agreed to acquire Tristar Intermediates Pvt Ltd for Rs 120 crore in multiple tranches. Rossari Biotech said that the acquisition will occur in multiple tranches. It will acquire a 76% equity stake of Tristar by September this year, as part of the first tranche, and the remaining will be acquired by the financial ending March 31, 2025. As part of its inorganic growth plan, the acquisition is in line with Rossari Biotech's strategy to set its place in specialty chemicals manufacturing. Tristar allows synergies in manufacturing and marketing that can be highly valued accretive in the long run. Tristar is involved in the manufacture and trade of organic and inorganic chemicals and was incorporated on September 1, 1997. It has three manufacturing plants with a capability of 15,000 million tonnes per annum (MTPA). It had registered a turnover of Rs 110.5 crore in the last financial year 2020-21 against Rs 95.2 crore in the prior fiscal year. Rossari Biotech announced last month that it will buy Unitop Chemicals Private for Rs 421 crore in an all-cash deal. Marking its first initial public offering (IPO) since India went into a lockdown in late March to manage the pandemic, Rossari went public in July last year. Before that, the company had raised Rs 100 crore by allocating shares to eight institutional investors in a pre-initial public offering (IPO) round. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code