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MCFL News

06 May 2016

More trouble for Vijay Mallya; irregularities found in MCFL investments in UB group

A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.

13 Dec 2015

Zuari group lines up Rs 300 crore for MCFL to double capacity

After gaining a controlling stake in the UB Group-promoted MCFL, the Zuari group plans to invest Rs 300 crore to double production capacity of phosphatic fertiliser at the Mangaluru plant.

31 May 2015

UB Group to hike stake in MCFL; to buy shares from Zuari

Now, United Breweries (Holdings) Ltd (UBHL) has decided to exercise its option whereby both the company and Zuari Group would have equal stakes in MCFL.

19 May 2015

Zuari Group acquires additional 36.56% stake in MCFL

UB Group, the original promoter, has 21.97% stake. Together, they will have 75% stake in MCFL.

18 May 2015

Zuari Group pledges 8.23% stake in MCFL to HDFC

Zuari Group has pledged its 8.23 percent stake in Mangalore Chemicals and Fertilisers Ltd (MCFL) to HDFC for partly financing its acquisition of 36.56 percent stake in the company.

17 May 2015

Zuari says offer to buy over 36% stake in MCFL oversubscribed

After the transfer of these shares, Zuari group would have 53.03 percent stake in MCFL. UB group, the original promoter, has 21.97% stake.

12 Apr 2015

Zuari group firming up plans to consolidate MCFL stake

Locked in a bitter takeover battle for fertiliser firm MCFL, Saroj Poddar-led Zuari group is firming up plans to acquire majority stake in the target company within two years.

Competition Commission

01 Apr 2015

Zuari to launch open offer in 12 days to acquire stake in MCFL

With Competition Commission's approval in place, Zuari Group is in discussions with investment bankers to launch its open offer in next 12 days to acquire additional 36.56 per cent stake in MCFL.

31 Mar 2015

CCI approves Zuari's open offer to acquire 36% stake in MCFL

In a boost to Zuari Group, the Competition Commission has approved its revised voluntary open offer to acquire additional 36.56 percent stake in MCFL, for which it is locked in a takeover battle with Deepak Fertilisers.

05 Dec 2014

MCFL shares surge over 15% on Zuari open offer

Shares of Mangalore Chemicals and Fertilizers Ltd (MCFL) surged over 15 percent on Friday on industrialist Saroj Poddar-led Zuari group's decision to spend upto Rs 282.19 crore to buy over three crore shares in the UB Group firm through a new open offer.

04 Dec 2014

MCFL appoints Mallya's step-mother Ritu Mallya as Director

In a filing to the BSE, MCFL said, "... The company's Board of Directors has appointed Mrs Ritu Mallya as a Director of the Company with immediate effect."

02 Dec 2014

Vijay Mallya's exit brings fizz to UB stocks; troubles mount further

In an irony of sorts, self-proclaimed 'King of Good Times' Vijay Mallya Tuesday saw shares of his various group companies soar higher even as fresh troubles surfaced in form of the group's holding entity being slapped with yet another 'wilful defaulter' tag.

02 Dec 2014

Govt rejects Vijay Mallya's reappointment as Kingfisher MD; quits MCFL board too

In a double-whammy for flamboyant businessman Vijay Mallya, the government has annulled his re- appointment as Managing Director of Kingfisher Airlines while he also had to quit from board of another group company MCFL.

01 Dec 2014

Vijay Mallya resigns from board of UB group fertiliser firm MCFL

In a surprise move, Vijay Mallya has resigned as director from his group firm Mangalore Chemicals and Fertilizers, which is the target of a takeover battle between Deepak Fertilisers and Zuari Group.

06 Oct 2014

MCFL pays Re one/month salary to its Managing Director

The salary of Re 1 a month has been approved by shareholders for 2014-15, as also for the subsequent year 2015-16, till the next annual general meeting takes place.

24 Jun 2014

Sebi seeks clarification on rival bids for Mallya group's MCFL

UB Group currently holds nearly 22 percent stake in MCFL, but over half of their shareholding is pledged.

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