This Strategic Buyout, Marks Ducol’s Diversification Beyond Pigment Dispersion, Expanding into Waterproofing and Construction Chemicals Market
Key Transaction Highlights:
Acquirer: Ducol Organics & Colours Limited
Target: Bitumag Industries Private Limited
Seller: Optichem Specialties FZE
Deal Value: ₹39.7 crore
Transaction Structure: 100% equity acquisition via share purchase agreement
Deal Closure Date: April 17, 2025
Funding: Partly financed through a ₹22.1 crore preferential allotment sanctioned in May 2025
Legal Counsel:
Advisory Firm: ALMT Legal
Key Lawyers Involved:
Statira Ranina (Senior Partner)
Vaishakh Kapadia (Partner)
Amishi Vira (Senior Associate)
Natiana Godinho (Associate)
Role: ALMT Legal provided end-to-end legal support, including due diligence, agreement drafting and negotiations, and regulatory guidance through to transaction closure.
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Strategic Importance of the Acquisition:
This acquisition marks a pivotal step in Ducol’s long-term growth strategy. Known for its leadership in pigment dispersions, Ducol is now making a deliberate move into the non-pigment chemical segment, focusing on construction chemicals and waterproofing—industries with robust growth potential in India’s infrastructure ecosystem.
Bitumag Industries, recognized for its solutions in waterproofing, has a significant production capacity of 10 million square metres annually. For FY25 (up to February 28), Bitumag reported revenue of ₹36.82 crore and a profit after tax of ₹3.04 crore, highlighting its operational profitability and potential for synergy with Ducol’s manufacturing capabilities.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.
