IOL Chemicals Share Price in Focus; Promoter Mayadevi Polycot Acquires Over 6.54 Lakh Shares

Mayadevi Polycot Limited has announced the acquisition of 6,54,123 equity shares of IOL Chemicals and Pharmaceuticals Limited.  

This transaction was conducted through the open market, further solidifying Mayadevi Polycot's position in the company. 

Details of the Acquisition 

On March 17, 2026, Mayadevi Polycot Limited acquired 6,54,123 shares of IOL Chemicals and Pharmaceuticals Limited.  

This acquisition was executed via the open market, as disclosed in the regulatory filing to the National Stock Exchange and BSE Limited.  

The purchase increased Mayadevi Polycot's total holding to 16,75,58,303 shares, representing 57.08% of the total voting capital of the target company. 

Impact on Shareholding Structure 

Prior to this acquisition, Mayadevi Polycot Limited, along with Persons Acting in Concert (PAC) such as Varinder Gupta, Varinder Gupta (HUF), NM Merchantiles Limited, and NCVI Enterprises Limited, held 16,69,04,180 shares, equating to 56.86% of the voting capital.  

The recent purchase has increased their collective stake to 57.08%, reflecting a 0.22% rise in their shareholding. 

Read More: Swan Defence and Heavy Industries Share Price in Focus as Promoter Hazel Infra to Offload Over 26.38 Lakh Shares!  

Regulatory Compliance 

The acquisition was carried out in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.  

The disclosure was made to ensure transparency and adherence to regulatory requirements, as mandated by the Securities and Exchange Board of India. 

IOL Chemicals and Pharmaceuticals Share Price Performance 

As of March 18, 2026, at 3:30 PM, IOL Chemicals and Pharmaceuticals share price on NSE was closed at ₹73.91 up by 8.36% from the previous closing price. 

Conclusion 

Mayadevi Polycot Limited's acquisition of additional shares in IOL Chemicals and Pharmaceuticals Limited marks a strategic move to strengthen its influence within the company. By increasing its stake to 57.08%, Mayadevi Polycot reaffirms its commitment to maintaining a significant presence in the pharmaceutical sector. 

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