Camlin Fine Sciences Limited has informed the Exchange about Update on Acquisition of Vinpai S..A.
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Camlin Fine Sciences has pushed back the timeline for completing its majority stake acquisition of Vinpai S.A. by three months, from June 30, 2025 to September 30, 2025. The delay is due to the foreign sellers still obtaining their PAN and opening demat accounts, which are required for the preferential allotment process under SEBI rules. The company has already invested €3.3 million in Vinpai through listed secured convertible bonds, whose maturity has been extended to October 25, 2025. The acquisition is still on track, with both parties having mutually agreed to the revised timelines.
The deal is progressing but procedural hurdles involving foreign sellers have pushed back completion by a quarter. Shareholders should note that the company has already deployed capital via convertible bonds, and no cancellation has been announced, so the acquisition remains on track though with delayed execution.