Race Eco Chain Invests ₹4.67 Cr in Subsidiary Ganesha Recycling

Race Eco Chain Ltd announced a further investment of ₹4.67 crore in its material subsidiary, Ganesha Recycling Chain Private Limited. The investment was made through the allotment of 93,379 Compulsorily Convertible Cumulative Preference Shares (CCPS) at a face value of ₹10 each. This infusion of capital maintains Race Eco Chain's 51% ownership stake in the subsidiary. 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, operates in the recycling industry and is based in India.