Out come of meeting attached
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crestchem Ltd's board meeting on May 7, 2026 approved the formation of a new subsidiary named Oleo Bioscienses Private Limited in Bangalore, Karnataka. Crestchem has subscribed to 75% of the subsidiary's share capital by investing Rs. 7.5 lakh (75,000 equity shares of Rs. 10 each). The subsidiary's initial authorised capital is Rs. 10 lakh. The board also noted the filing of INC-20A for commencement of business and the execution of a rental agreement for a shed to install a pilot plant and laboratory equipment. The company stated the project is in preliminary stage with no purchase orders placed and no revenue operations started. The board noted it is reevaluating all pros and cons given current global uncertainties related to geopolitical situations.
The formation of this subsidiary represents a diversification or expansion initiative, though it remains in early conceptual stages with no commercial operations. Shareholders should note the company is being cautious given current global uncertainties, and this investment carries execution risk until the strategic review is complete.