Fine Organic Industries Limited has informed the Exchange about that the Company has further invested in Fine Organic Industries (SEZ) Private Limited, WOS. The details are enclosed herewith.
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Fine Organic Industries has invested Rs. 65 crore in its wholly owned subsidiary, Fine Organic Industries (SEZ) Private Limited, by subscribing to 6.5 crore 1% Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares of Rs. 10 face value each. The WOS was incorporated in October 2023 and has not yet commenced operations. The investment is a cash infusion aimed at supporting the subsidiary in setting up a new manufacturing unit in the specialty chemicals business. The subsidiary remains 100% owned by Fine Organic Industries, and the promoter group has no separate interest in the transaction.
This is a routine capital infusion into an existing wholly owned subsidiary to fund the setup of a new manufacturing facility, signalling the company's expansion plans in specialty chemicals. Since the WOS is not yet operational, the immediate financial impact is limited, but it lays the groundwork for future revenue contribution from the new unit.