Himadri Speciality Chemical to Acquire 100% Stake in Himadri Power Limited for INR 2,50,000

Himadri Speciality Chemical Ltd has approved the acquisition of 100% paid-up equity share capital of Himadri Power Limited for a total purchase consideration of INR 2,50,000. The acquisition will make Himadri Power Limited a Wholly Owned Subsidiary of Himadri Speciality Chemical Ltd. The transaction is on an arm’s length basis and in compliance with the applicable provisions/regulations. The acquisition is expected to be completed within 60 days from the date of signing the SPA.