Business Update25 Jun 2024, 12:59 am
Privi Speciality Chemicals to Invest Rs.298 Crores in Privi Fine Sciences for Biowaste Conversion Project
AI Summary
Privi Speciality Chemicals Ltd. has approved a strategic investment in Privi Fine Sciences Private Limited (PFSPL) by way of subscription to and/or secondary acquisition of equity shares up to Rs.298,00,00,000/-. This investment will provide part of the funds required for the implementation of PFSPL's biowaste conversion project. The proposed acquisition is a material related party transaction, subject to shareholder approval, execution of definitive agreements, due diligence, and necessary approvals.
Key Highlights
- Privi Speciality Chemicals to invest in Privi Fine Sciences Private Limited for biowaste conversion project.
- Investment of up to Rs.298,00,00,000/- (Rupees Two Hundred and Ninety-Eight Crores Only).
- Proposed acquisition is a material related party transaction.
- Subject to approval by the shareholders, execution of definitive agreements, due diligence, and necessary approvals.
- Privi Fine Sciences is engaged in the manufacturing of speciality and aroma chemicals and green science chemistry.