Shardul Amarchand Mangaldas & Co (SAM) and AZB & Partners have advised on the merger between Mangalore Chemicals & Fertilisers (MCF) with Paradeep Phosphates, creating one of India’’s largest integrated private sector fertiliser companies.
SAM represented Paradeep and Mangalore Chemicals in their proposed merger, as well as Zuari Maroc Phosphates in its acquisition of MCF shares.
Executive chairman Shardul Shroff led the transaction team, with partners Gunjan Shah, Karun Prakash and Sangamitra Sankaraiah, senior associate Amrusha Monga and associate Ruthvik Tumuluri. Partner Rohan Arora led the competition team.
AZB & Partners advised a member of the promoter group of Paradeep Phosphates in the merger. The transaction team comprised senior partner Vaidhyanadhan Iyer, counsel Abhilash Chandran and Himanshoo Tembe, and associates Shivani Shenoy and Jay Singhee. Associates Ashish Narang, Avani Laad and Meghna Somani also supported the team.
MCF, a subsidiary of Zuari Agro under the Adventz Group, holds 54.03% of shares. MCF is Karnataka’s largest chemical fertiliser manufacturer, located in Panambur, near Mangalore.
Paradeep is a leading Indian producer of phosphatic fertilisers with a 3 million metric tonne capacity, split between Odisha and Goa. Founded in 1981, Paradeep became a public sector enterprise before Zuari Maroc Phosphates acquired a majority stake. Following a successful 2022 IPO, Paradeep’s fertiliser brands Jai Kisaan and Navratna can reach more then 8 million farmers across 16 states in the country.
