Business Update21 Jun 2024, 12:17 am
Clean Science and Technology Invests in Wholly Owned Subsidiary Clean Fino-Chem for Rs. 50 Crores
AI Summary
Clean Science and Technology Ltd. (CSTL) has invested in its wholly owned subsidiary, Clean Fino-Chem Limited (CFCL), by subscribing to 8,36,121 equity shares at a premium. The total investment amounts to Rs. 50,00,00,358. CFCL, incorporated on 22nd March 2022, is a related party of CSTL. The additional capital will be used for funding its growth capex. The transaction is at arms length and does not require any governmental or regulatory approvals.
Key Highlights
- Clean Science and Technology invests in wholly owned subsidiary, Clean Fino-Chem Limited
- Investment amount: Rs. 50,00,00,358
- Clean Fino-Chem Limited incorporated on 22nd March 2022
- Additional capital to be used for funding growth capex
- Transaction is at arms length