+
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

Next Story
Infrastructure Urban

India to Invest Rs 600 Billion to Upgrade 1,000 ITIs

As part of its drive to modernise vocational training, the Ministry of Skill Development and Entrepreneurship (MSDE), in collaboration with Gujarat’s Labour and Employment Department, held a State-Level Workshop at the NAMTECH Campus within IIT-Gandhinagar to discuss the National Scheme for ITI Upgradation.The consultation brought together key stakeholders from industry and the training ecosystem to align expectations and support implementation of the scheme, which aims to transform 1,000 Industrial Training Institutes (ITIs) across India using a hub-and-spoke model. The total outlay stands ..

Next Story
Infrastructure Urban

India Unveils Rs 600 Billion Maritime Finance Push

The Ministry of Ports, Shipping & Waterways (MoPSW) hosted the Maritime Financing Summit 2025 in New Delhi, bringing together over 250 stakeholders including policymakers, industry leaders, global investors, and financial institutions. The summit, held under the ambit of Maritime Amrit Kaal Vision (MAKV) 2047, focused on transforming India into a leading maritime power with strengthened financial, infrastructural, and technological capabilities.Union Minister Sarbananda Sonowal emphasised India's strategic progress, noting that average port turnaround times have dropped from four days to u..

Next Story
Infrastructure Urban

Govt Allocates Rs 500 Million To Boost Community Radio

The Central Government, through its ‘Supporting Community Radio Movement in India’ scheme, has allocated Rs 500 million to strengthen the community radio ecosystem across the country. The initiative aims to assist both newly established and long-operational Community Radio Stations (CRSs), ensuring their relevance to local educational, social, cultural, and developmental needs.According to the policy published by the Ministry of Information and Broadcasting, CRSs may be set up by not-for-profit organisations with at least three years of demonstrated community service. These stations are ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?