Intimation under Regulation 30 of SEBI Listing Regulations, 2015, investment in Wholly Owned Subsidiary.
Awaiting price reaction for this filing.
Clean Science and Technology Limited has invested an additional Rs. 50.00 crores in its wholly owned subsidiary, Clean Fino-Chem Limited (CFCL), by subscribing to 8,36,121 equity shares at a face value of Rs. 10 each with a premium of Rs. 588 per share through a Rights Issue. The funds will be primarily used for funding CFCL's projects in the speciality chemicals space. CFCL was incorporated in March 2022 and reported a turnover of Rs. 1.92 crore in FY24, with nil turnover in FY23. The transaction is conducted at arm's length and CFCL remains a 100% wholly owned subsidiary post-investment.
This is a capital infusion into the company's own subsidiary to support its project funding needs, with no change in ownership structure. Shareholders may view this as a sign of the parent company backing growth initiatives in the speciality chemicals segment, though the subsidiary is still at an early revenue stage.