Sale of entire 17.92% stake in Credo Advanced Chemicals Ltd completed
Gujarat Apollo Industries has completed the sale of its entire shareholding in Credo Advanced Chemicals Ltd (CACL), an unlisted company.
- Shares sold
- 1,34,40,000 equity shares of Rs. 10 each
- Stake sold
- 17.92% of CACL's equity capital
- Aggregate consideration
- Rs. 37,63,20,000
Gujarat Apollo Industries Limited has informed the exchanges that it has today, 6 October 2026, executed and completed the sale of its entire shareholding in Credo Advanced Chemicals Limited (CACL), an unlisted company.
What was sold
- 1,34,40,000 equity shares of Rs. 10 each of CACL, representing 17.92% of CACL's equity share capital.
- CACL was formerly known as Credo Mineral Industries Limited.
- The aggregate consideration for the sale was Rs. 37,63,20,000 (Rupees Thirty-Seven Crores Sixty-Three Lakhs and Twenty Thousand only).
- After the sale, the company no longer holds any shareholding in CACL.
Approvals behind the transaction
- The Board of Directors approved it at its meeting held on 3rd September 2026.
- Shareholders approved it by way of a special resolution under Section 180(1)(a) of the Companies Act, 2013 read with Regulation 37A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Deloitte Touche Tohmatsu India LLP acted as exclusive advisor to the company for the transaction.
What this tells investors
- The announcement is an update that the sale has been executed and completed as per the earlier approvals.
- It states the exact stake sold, the number of shares and the total consideration received.
- The company's holding in CACL is stated as nil after the transaction.
More numbers
- Aggregate consideration for the sale₹ 37,63,20,000/-
- Equity shares sold1,34,40,000 equity shares
- Stake sold in CACL17.92%
- Face value per share of CACL₹10 each
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