Camlin Fine Sciences Limited, a leading player in the fine chemicals sector, has extended the completion timeline for its acquisition of a majority stake in Vinpai S.A. The new deadline is now November 30, 2025, pushed back from the earlier target of September 30, 2025, due to regulatory documentation requirements.
Reason for the Delay
The delay arose because foreign sellers involved in the transaction needed to obtain Permanent Account Numbers (PANs)—a prerequisite under SEBI regulations for preferential allotment of equity shares. With the PANs now secured, the acquisition can move to the next phase.
Next Steps
Camlin Fine Sciences is seeking approval from its Board of Directors and shareholders to issue equity shares through preferential allotment. These shares will be issued as payment for acquiring the majority stake in Vinpai via a share swap arrangement.
Background
The acquisition was first disclosed on February 24, 2025, following the execution of a Share Purchase Agreement (SPA) with key Vinpai shareholders, including the founders. A prior update in June 2025 had set the expected completion for September 30, 2025.
Regulatory Compliance
The company has assured stakeholders that all regulatory requirements are being followed. In its LODR filing, Camlin Fine Sciences cited adherence to Regulation 30 of SEBI Listing Regulations, along with relevant SEBI circulars, ensuring transparency throughout the cross-border transaction process.
The extension underscores the complexities of international acquisitions, particularly when navigating regulatory frameworks. Investors and industry observers will be closely watching as Camlin Fine Sciences moves forward with this strategic acquisition, which is aimed at strengthening its global footprint in the fine chemicals market.
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