Race Eco Chain Invests ₹1.17 Cr in Subsidiary Ganesha Recycling

Race Eco Chain Limited has invested INR 1,17,30,000 in its subsidiary, Ganesha Recycling Chain Private Limited, through a rights issue. This investment adds 1,17,300 equity shares to Race Eco Chain's holdings, maintaining its 51% ownership stake. The subsidiary, incorporated on September 10, 2024, operates in the recycling industry in India. The investment is part of Race Eco Chain's corporate objective to expand its business. The transaction is considered a related party transaction but is conducted on an arm's length basis, with no interest from promoters or promoter groups in the acquired entity.