CFI advised Borax Morarji on its sale to The Dharamsi Morarji Chemical Co.

Mumbai – CFI India acted as the exclusive corporate finance advisor to Borax Morarji Limited on the sale of their entire share capital to The Dharamsi Morarji Chemical Co. Limited.

The Dharamsi Morarji Chemical Co. Limited (DMCC), headquartered in Mumbai (India), is an ISO 9001:2008 accredited organization. Established in 1919, DMCC was the first producer of Sulphuric Acid and Phosphate fertilizers in India. Over the years, the brand of the Company (“Ship”) came to be recognized as the quality standard for Single Superphosphate (SSP). Today, DMCC is one of the leading chemical companies in India.

Borax Morarji Limited has been pioneer in manufacturing boron based chemicals since 1964. Glass, ceramic and pharmaceutical industries are the major consumers of boron chemicals.

CFI India was hired to provide fairness opinion on the swap ration under the Scheme of Amalgamation. We had discussions with the management and transaction advisors of the company to understand the calculations for determination of the swap ratio.

The transaction closed in March 2017.