Pls Find enclosed intimation for the Investment in the Subsidiary Company
RACE · price
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Race Eco Chain Ltd has invested INR 1.02 crore (₹1,02,00,000) in its subsidiary Ganesha Recycling Chain Private Limited through a subscription to a Rights Issue. The company was allotted 1,02,000 equity shares on 02nd May 2025. This investment keeps the company's stake in the subsidiary unchanged at 51%. Ganesha Recycling Chain Private Limited is a related party of the company and the transaction is stated to be at arms length. The subsidiary was incorporated in September 2024 and operates in the recycling business. The investment is described as part of the company's overall corporate objective to expand its business. No regulatory approvals were required for this transaction.
This is an additional capital infusion into an already-controlled subsidiary and does not change the ownership structure, so the impact on Race Eco Chain's stock is likely neutral to marginally positive, reflecting management's intent to grow the recycling vertical.