Chembond Chemicals, manufacturer and supplier of specialty performance chemicals across India, has entered into a Share Purchase Agreement (SPA) with (i) I-Chem Solution Sdn Bhd, Malaysia and (ii) I Chembond Water Sdn Bhd, Malaysia, whereby the company, subject to the conditions to be fulfilled as per the SPA, would acquire additional 49% of the equity shares of I Chembond Water Sdn Bhd, Malaysia.

Post fulfillment of all the necessary terms, conditions & requirements as mentioned in the SPA, the company would hold 100% of equity share capital of I Chembond Water Sdn Bhd, Malaysia. Further, pursuant to the fulfillment of the terms of the SPA, inter-alia, the Joint Venture (JV) Agreement with I-Chem Solution Sdn Bhd, Malaysia stands terminated.

Shares of the company gained Rs 1.25, or 0.61%, to trade at Rs 207.15. The total volume of shares traded was 27,476 at the BSE (10.09 a.m., Wednesday).