Subsidiary30 Mar 2026, 06:22 pm
Indo Amines Ltd: Subsidiary Indo Speciality Chemicals Private Limited Now an Associate Company
AI Summary
Indo Amines Ltd has announced that its subsidiary, Indo Speciality Chemicals Private Limited, has ceased to be a subsidiary and has become an Associate Company due to the company's non-participation in the rights issue of the subsidiary, resulting in a dilution of shareholding. The subsidiary was previously holding 51.39% of the shares, which has now been reduced to 39.39%, thereby losing the 'subsidiary' status.
Key Highlights
- Indo Speciality Chemicals Private Limited was a subsidiary of Indo Amines Ltd.
- Indo Amines Ltd did not participate in the Rights Issue of Indo Speciality Chemicals Private Limited.
- The shareholding of Indo Amines Ltd in Indo Speciality Chemicals Private Limited has been diluted from 51.39% to 39.39%.
- Indo Speciality Chemicals Private Limited has ceased to be a subsidiary and has become an Associate Company of Indo Amines Ltd.
- The change in status is due to the reduction in shareholding to below 12%, but maintaining significant influence.