Race Eco Chain Invests ₹1.02 Cr in Subsidiary Ganesha Recycling

Race Eco Chain Ltd has announced a further investment of ₹1,02,00,000 (Rupees One Crore Two Lakh Only) in its material subsidiary, Ganesha Recycling Chain Private Limited. This investment, made via subscription to a Rights Issue, involves the allotment of 1,02,000 equity shares. The company's ownership stake in Ganesha Recycling Chain Private Limited remains unchanged at 51%. The transaction is considered a related party transaction but is conducted on an arm's length basis. Ganesha Recycling Chain Private Limited, incorporated on September 10, 2024, is engaged in the recycling business in India. The investment aims to expand the business as part of the company's overall corporate objectives. No governmental or regulatory approvals are required for this acquisition.