DCM Shriram Consolidated Ltd, one of the country’s leading diversified company, has entered into agreement with Shri Ganpati Fertilizers Ltd, Jaipur (SGFL) to acquire 81.41% of the total equity shares of SGFL.

With the acquisition, SGFL will become the subsidiary of the company. However, DCM Shriram has not disclosed any financial details regarding the deal.

SGFL is engaged in the manufacture of Single Super Phosphate (SSP) having manufacturing unit in District Chittorgarh, Rajasthan. The plant has manufacturing capacity of SSP Powder over 1,98,000 tonnes per annum and SSP Granules at 60,000 tonnes per annum.

New-Delhi based DCM Shriram Consolidated Limited engages in the manufacture and distribution of fertilizers, chemicals, sugar, and plastic products in India. The company operates through three divisions: Chloro-Vinyl Business, Agri-Business, and Other Businesses.

Shares of the company declined Rs 1.00, or 2%, to trade at Rs 65. The total volume of shares traded was 16,457 at the BSE. (12.05 p.m., Friday)