Investment9 Dec 2024, 09:14 pm
Vinati Organics Invests INR 39.65 Crores in Wholly Owned Subsidiary Veeral Organics Pvt. Ltd.
AI Summary
Vinati Organics Limited has subscribed to 3,96,50,000 fully paid-up equity shares of Veeral Organics Pvt. Ltd., a Wholly Owned Subsidiary, amounting to INR 39.65 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 the Company.
Key Highlights
- Vinati Organics Limited invests INR 39.65 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 manufacturer of Organics Fine Specialty Chemicals.
- The investment represents 100% of the Share Capital 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.