Fine Organic completes 80% acquisition of Malaysia's Oleofine Organics

Fine Organic Industries has completed the acquisition of an 80% equity stake in Oleofine Organics SDN. BHD. (OFM), Malaysia, for RM 34.21 million (about INR 80.17 crores) in cash. OFM is a specialty chemicals firm with FY26 turnover of INR 54.17 crores and net worth of INR 79.65 crores. Of the 80%, 50% was bought from promoter group entity Smoothex Chemicals (related party). As a result, Fine Organic Industries Thailand (FOIT) also became a subsidiary with about 53% aggregate control. FOIT posted FY25 turnover of INR 28.87 crores.