Acquisitions14 Oct 2024, 05:04 pm
Vinati Organics Invests Additional ₹ 42.64 Crores in Wholly Owned Subsidiary Veeral Organics Pvt. Ltd.
AI Summary
Vinati Organics Limited has subscribed to 4,26,48,200 fully paid-up equity shares of Veeral Organics Pvt. Ltd., a Wholly Owned Subsidiary, amounting to ₹ 42.64 Crores. This investment is made towards the rights issue of Veeral Organics Pvt. Ltd., and the shares rank pari-passu to existing Equity Shares of Vinati Organics Limited.
Key Highlights
- Vinati Organics Limited has invested an additional ₹ 42.64 Crores in its Wholly Owned Subsidiary Veeral Organics Pvt. Ltd.
- The investment is made towards the rights issue of Veeral Organics Pvt. Ltd.
- Veeral Organics Pvt. Ltd. is a Wholly Owned Subsidiary of Vinati Organics Limited, incorporated under the Indian Companies Act, 2013.
- The main business object of Veeral Organics Private Limited is the manufacturing of Organics Fine Specialty Chemicals.
- Vinati Organics Limited has subscribed 4,26,48,200 fully paid-up equity shares of Veeral Organics Private Limited.