Tata Chemicals Share Price Surges as its Subsidiary to Buy 100% Stake in Novabay

Tata Chemicals Ltd informed stock exchanges on December 19 that its wholly owned subsidiary, Tata Chemicals International Pte Ltd (TCIPL), has signed a share purchase agreement to acquire 100% equity shares of Novabay Pte Ltd.  

Novabay is a Singapore-incorporated company engaged in the manufacture of premium-grade sodium bicarbonate. The transaction remains subject to conditions mentioned in the agreement and is expected to be completed by March 2026. 

Transaction Terms 

The acquisition will be executed as a cash transaction at an enterprise value of €25 million, or approximately SGD 37.8 million. The consideration will be adjusted for net debt, net working capital, and other customary closing adjustments.  

After the transaction is completed, Novabay will become a wholly owned subsidiary of TCIPL. 

Tata Chemicals clarified that the acquisition does not involve any related party transaction. The company also stated that its promoters and promoter group have no interest in Novabay. 

Novabay Background 

Novabay was incorporated in November 2015 and is a wholly owned subsidiary of France-based Novacarb. The company manufactures and sells premium-grade sodium bicarbonate used in pharmaceuticals, food, personal care, and other industrial applications.  

Its operations cater to customers across Europe, the Americas, Oceania, Asia, the Middle East, and ASEAN markets. 

Capacity and Certifications 

The company currently has a production capacity of around 60,000 tonnes. This capacity can be expanded to about 100,000 tonnes, subject to approvals and capital expenditure. Novabay holds certifications such as cGMP and API-related approvals, which are required for supplying regulated sectors. 

Novabay Financial Performance 

Novabay reported a turnover of SGD 27.68 million in calendar year 2022. Revenue declined to SGD 25.93 million in 2023, before rising to SGD 29.49 million in 2024. The company has reported revenues from multiple regions over the last three calendar years. 

Novabay is among the larger producers of premium-grade sodium bicarbonate in the Asia-Pacific region, excluding China. Its products are mainly supplied to customers requiring higher-grade specifications. 

Tata Chemicals Share Price Performance  

As of December 22, 2025, 10:24 am, Tata Chemicals share price was trading at ₹771.70, a 1.37% increase from the previous clsoing price. 

Read More: Tata Chemicals Raises ₹1,500 Crore Via Private Placement Of NCDs! 

Conclusion 

The acquisition, once completed, will result in Novabay becoming part of Tata Chemicals’ overseas subsidiary structure, subject to the fulfilment of conditions outlined in the agreement. 

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