Race Eco Chain Limited has informed the Exchange about the Further Investment in the Subsidiary Company M/s. Ganesha Recycling Chain Pvt Ltd
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Awaiting price reaction for this filing.
Race Eco Chain Limited has invested ₹2.55 crore in its subsidiary, Ganesha Recycling Chain Private Limited, by subscribing to a Rights Issue. The company was allotted 2,55,000 equity shares at ₹100 each (face value ₹10, premium ₹90 per share) on 15th April 2025. This is a related party transaction done at arm's length, with promoters having no separate interest. Despite the fresh investment, Race Eco Chain's stake in the subsidiary remains unchanged at 51%. Ganesha Recycling Chain is engaged in the recycling business in India and was incorporated in September 2024 with a post-issue paid-up capital of ₹6.5 crore.
This is a capital infusion into an existing subsidiary rather than a new acquisition, so ownership percentage stays the same at 51%. The investment signals continued commitment to the recycling business and expansion plans, but is a relatively small amount (~₹2.55 crore) and unlikely to materially impact the stock price.