Eiko Lifesciences Forms 50-50 JV for Renewable Energy

Eiko Lifesciences Ltd, through its wholly-owned subsidiary Eiko Scientific Solutions LLP, has entered into a 50-50 joint venture with Oval Projects Engineering Limited. The new entity, Oval Eiko Resources Private Limited, will focus on Renewable Energy, specifically Compressed Bio Gas production and distribution. Eiko Scientific Solutions LLP will infuse an initial capital of ₹2,50,000/- representing 50% of the paid-up share capital. This move diversifies Eiko Lifesciences' business into the sustainable energy sector, aiming to strengthen long-term growth prospects. The transaction is considered at arm's length, and Oval Eiko Resources Private Limited is a related party due to the subsidiary's shareholding.