Am Green Ammonia (india) Private Limited agreed to acquire Urea and Micro-lrrigation business of Nagarjuna Fertilizers & Chemicals on August 14, 2023. The consideration consists of - INR 13.6 billion in cash and and 19.7% in the equity of Am Green Ammonia with a call option valued at INR 3.4 billion. The transaction is subject to terms and conditions precedents including shareholders approval of Nagarjuna Fertilizers, lenders approval and recognition and reimbursement of energy claims submitted by the company by DoF Gol).

The agreement for sale will be entered into post the shareholders approval. The Competition Commission of India has approved the proposed acquisition NFCL Assets. The transaction is expected to close in end of December 2023.