Vahh Chemicals to invest Rs 4.9 lakh for 49% stake in Vedant Chemical Solutions
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Vahh Chemicals Limited's Board approved investing in a proposed company called Vedant Chemical Solutions Limited. The company will subscribe to 49,000 equity shares, representing 49% stake, at Rs. 10 each, totalling about Rs. 4.9 lakh in cash. Vedant Chemical Solutions is being set up in the textile industry to manufacture, trade and distribute printing and dyeing chemicals for textile processing units and dyeing houses. The entity is not yet incorporated and no regulatory approvals are required.
Minor investment of about Rs 4.9 lakh in a related chemicals venture. Likely limited impact on stock as the amount is small and entity is yet to be incorporated.