Race Eco Chain's Subsidiary Invests ₹2 Cr in GEM Polymers

Race Eco Chain Ltd announces that its subsidiary, Ganesha Recycling Chain Private Limited, has invested ₹2.00 Cr in its step-down subsidiary, GEM Polymers Private Limited. This investment comprises 200,000 equity shares of GEM Polymers Pvt. Ltd. with a face value of ₹10 each, resulting in a 49% stake. GEM Polymers, incorporated on January 4, 2024, operates in the recycling industry. The investment qualifies as a related party transaction, but no promoter/promoter group/group companies have an interest in the entity. This strategic move aligns with Ganesha Recycling Chain's corporate objectives to expand its business.