Race Eco Chain Limited has informed the Exchange regarding Outcome of Board Meeting held on February 20, 2026.
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Race Eco Chain Limited's Board, at its meeting on February 20, 2026, approved investing in a new company called Race Grassland Private Limited, which is yet to be incorporated. The company will subscribe to 51% of the equity share capital at face value of Rs. 10 per share, amounting to Rs. 7,65,000. The proposed subsidiary will operate in the recycling and green energy/biomass space, dealing in briquettes, pellets, biogas production, and carbon credit schemes. The transaction is not a related party deal and promoters have no interest in the new entity.
The investment amount is very small (Rs. 7.65 lakh) and the new entity has no current operations, so limited immediate financial impact for shareholders. However, it signals a strategic move into biomass/green energy, which could be positive if the subsidiary scales up successfully.