Himadri Speciality Chemical Ltd announced yesterday the acquisition of a 60 per cent stake in Trancemarine and Confreight Logistics Private Limited for ₹4.23 crore in cash. The board approved the transaction during its meeting on April 3, 2025, as disclosed in a regulatory filing.
The acquisition aims to establish a strong foothold in the strategic resource extraction sector, focusing on critical and industrial minerals. Upon completion of the purchase, expected within 10 days of signing the agreements, Trancemarine will become a subsidiary of Himadri, while Sturdy Niketan Private Limited will become its step-down subsidiary.
As part of the transaction, Himadri will provide a loan of up to ₹150 crore to Sturdy Niketan, which will be utilised for paying royalties related to mineral extraction. The loan carries an interest rate of 9.5 per cent per annum, is repayable on demand, and will be funded through internal accruals.
Trancemarine, incorporated in May 2011, reported a turnover of ₹35.69 crore for the financial year ended March 31, 2024. However, the company noted that this revenue primarily came from freight and logistics operations that are being discontinued.
Sturdy Niketan, incorporated in January 2023, has not reported any turnover in the past three financial years. Trancemarine holds a 99 per cent stake in Sturdy Niketan, which is also engaged in the critical and industrial minerals sector.
