Atul Ltd and Buckman Laboratories Form a Joint Venture: Atul-Buckman Specialties Pvt Ltd

Atul Ltd and Buckman Laboratories (Asia) Pte Ltd have formed a joint venture named Atul-Buckman Specialties Pvt Ltd. The joint venture is incorporated with an initial capital of ₹ 10,00,000 and will be based in Ahmedabad, Gujarat, India. The primary objective of the joint venture is to enter the business of water treatment chemicals and solutions, including digital solutions. Both Atul Ltd and Buckman Laboratories (Asia) Pte Ltd will hold 50% shares of the joint venture. The joint venture is a related party to Atul Ltd, but the promoter or promoter group companies do not have any interest in it. The joint venture is expected to undertake water treatment chemicals and solutions business. No governmental or regulatory approvals are required for the acquisition, and the acquisition is expected to be completed soon. The cost of acquisition or the price of the shares is yet to be invested.