Chiraharit gets 4.8 lakh shares in subsidiary MPPL via rights issue
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Chiraharit Limited was allotted 4,80,000 equity shares of face value Rs 10 each, totalling Rs 48 lakh, in its subsidiary Malaxmi Polymers Private Limited (MPPL) through a rights issue. Chiraharit now holds 18 lakh shares, or 72 percent of MPPL. MPPL makes HDPE and PVC pipes with turnover of Rs 7.36 crore in FY25-26, Rs 8.47 crore in FY24-25, and Rs 8.78 crore in FY23-24. Allotment was for cash at face value. Promoters and MD of Chiraharit are shareholders and director in MPPL, so this is a related party transaction at arm's length.
Chiraharit raises its MPPL stake to 72 percent with a small Rs 48 lakh cash outflow. Minor for the listed entity; consolidates subsidiary support.