Race Eco Chain Limited has informed the Exchange about further Investment in the subsidiary company
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Race Eco Chain Limited has invested INR 1.02 crore (1,02,00,000) in its subsidiary Ganesha Recycling Chain Private Limited through subscription to a Rights Issue. The company was allotted 1,02,000 Equity Shares on May 2, 2025. This investment maintains the company's 51% stake in the subsidiary. Ganesha Recycling Chain Private Limited was incorporated on September 10, 2024, with authorized capital of INR 10 crore and paid-up capital of INR 7.30 crore. The transaction qualifies as a related party transaction but was conducted at arms length. The investment aligns with the company's corporate objective to expand its recycling business operations.
The investment keeps the subsidiary structure intact with no change in ownership percentage. It represents a routine capital infusion to support the recycling subsidiary's operations without any immediate material impact on the parent company's financials or shareholding pattern.