Himadri Speciality Chemical share price gains 3%; What's boosting rally?

The move came after on October 19, 2023, the company had informed regarding the acquisition of Birla Tyres jointly by Dalmia Bharat Refractories Limited and Himadri Speciality Chemical Ltd

Himadri Speciality Chemical shares advanced 3.2 per cent in trade on Monday, April 1, 2025, logging an intraday high at ₹437.8 per share on BSE. The demand for the stock came after the company's board gave a nod to convert 30,00,000 no. of 0.01 per cent secured optionally convertible debentures (OCDs) into equity shares of Birla Tyres and subsequent acquisition of 9,999 existing equity shares of Birla Tyres held by Dalmia Bharat Refractories Limited.

 

Around 10:06 AM, Himadri Speciality Chemical share price was up 2.24 per cent at ₹433.45 per share on BSE. In comparison, the BSE Sensex was down 0.04 per cent at 77,382.28. The market capitalisation of the company stood at ₹21,398.61 crore. The 52-week high of the stock was at ₹688.5 per share and the 52-week low was at ₹291.55 per share.

 

 

"The board at its’ meeting held on March 29, 2025, has approved to exercise option to convert 30,00,000 no. of OCDs (out of 49,99,999 OCDs) held by the company as a debenture holder of Birla Tyres into 30,00,000 no. of equity shares of ₹10 each of Birla Tyres. By this conversion, the company will be holding 99.97 per cent of paid-up equity shares of Birla Tyres," the filing read.  

 

The move came after on October 19, 2023, the company had informed regarding the acquisition of Birla Tyres jointly by Dalmia Bharat Refractories and Himadri Speciality Chemical. The company had subscribed 49,99,999 no. of 0.01 per centSecured OCDs of ₹10 each of Birla Tyres.

 

Further, the board has also approved the subsequent acquisition of 9,999 equity shares of Birla Tyres presently held by Dalmia Bharat Refractories, for total purchase consideration as may be mutually agreed between Dalmia Bharat Refractories and the company, not exceeding ₹10,00,000 in cash.

 

The board has also approved a share purchase agreement (SPA) to be entered into with Birla Tyres and its existing shareholders to acquire 9,999 of the equity shares of Birla Tyres (post-conversion of OCDs). The said acquisition is subject to the fulfillment of various terms and conditions as specified in the SPA. 

 

Meanwhile, the board has approved the option to convert 1,44,118 no. of 0.01 per cent Unsecured OCDs of ₹10 each held by the company as a Debenture holder of f Himadri Birla Tyre Manufacturer into 1,44,118 no. of equity shares of ₹10 each. By this conversion the company will be holding 49 per cent of paid-up equity share capital of Himadri Birla Tyre Manufacturer. 

 

In the past one year, Himadri Speciality Chemical shares have gained 34 per cent against Sensex's rise of 4.5 per cent.