Privi Speciality Chemicals Limited has informed the Exchange regarding 'approving an equity investment of Rs.50 Crores in Prigiv Specialities Private Limited, (Subsidiary Company) in the exixting shareholding ratio of 51:49. Privi Shall invest 51% of total equity investment, amounting to Rs.25.5 crors and the balance 49% shall be contributed by its JV Partner, Givaudan SA.'.
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Privi Speciality Chemicals has approved an equity investment of Rs. 50 crores in its subsidiary Prigiv Specialities Private Limited, maintaining the existing 51:49 shareholding ratio. Privi will contribute Rs. 25.5 crores (51%) while its joint venture partner Givaudan SA will bring in the remaining Rs. 24.5 crores (49%). Givaudan is a major Swiss fragrance and flavours company, and Prigiv Specialities is the existing JV between the two firms. The capital infusion is aimed at funding growth or operations of the subsidiary.
The investment is in line with Privi's existing JV structure and does not change ownership proportions, so there is no equity dilution for Privi shareholders. The continued backing from Givaudan signals confidence in the joint venture's prospects, which is mildly positive for the stock.