Race Eco Chain Limited has informed regarding Disclosure of Completion of Sale of Shares of the Subsidiary Company M/s. India Polymers Private Limited
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Race Eco Chain Limited has completed the sale of 100% shares of its subsidiary, M/s. India Polymers Private Limited, following a successful transfer of shares. The transaction was first announced via an earlier intimation dated 11th February 2025. With the completion, India Polymers has ceased to be a subsidiary of Race Eco Chain. The full disclosure details under SEBI LODR regulations were filed with the stock exchanges on 11th February 2025.
For shareholders, this means one subsidiary has been divested, which may simplify the group's structure and free up management focus. Depending on the sale proceeds, it could improve cash position, but consolidated revenue and operations from this entity will no longer flow into Race Eco Chain's financials.