Fine Organic to Acquire 80% Stake in Oleofine Organics for ₹80.28 Cr

Fine Organic Industries Ltd announced the execution of Share Transfer Agreements to acquire an 80% equity stake in Oleofine Organics SDN. BHD. (OFM), a Malaysian specialty chemicals company. The acquisition cost is up to RM 3,42,08,000 (approximately ₹80.28 crores). This strategic move aligns with Fine Organic's growth strategy, as OFM's business falls within the company's main line of operations. The transaction involves acquiring 50% from Smoothex Chemicals Private Limited, a related party, and the remaining 30% from unrelated shareholders. The acquisition is expected to be completed upon fulfillment of conditions precedent and will be conducted on an arm's length basis.