Business Update29 Jun 2024, 12:16 am
Ganesha Ecosphere Invests Rs. 100 Crore in Wholly Owned Subsidiary Ganesha Ecotech
AI Summary
Ganesha Ecosphere Ltd. has made a further investment of Rs. 100.00 Crore in the Equity Share Capital of Ganesha Ecotech Private Limited, a Wholly Owned Subsidiary of the Company. The investment was made on June 28, 2024, by subscribing to 10,00,00,000 (Ten Crore) Equity Shares of Face Value of Rs. 10/- each, at PAR, on rights basis. The subsidiary will use the funds for repayment of its debts and other general corporate purposes.
Key Highlights
- Ganesha Ecosphere invests Rs. 100 Crore in its Wholly Owned Subsidiary, Ganesha Ecotech
- The investment was made on June 28, 2024, by subscribing to 10,00,00,000 (Ten Crore) Equity Shares
- The subsidiary will use the funds for repayment of its debts and other general corporate purposes
- Ganesha Ecotech is engaged in the business of manufacturing of Washed pet flakes made from Pet bottle scrap and Polypropylene staple fibre
- No governmental or regulatory approval was required for this investment