Clean Science and Technology Limited has subscribed to an additional 8,36,121 equity shares in its wholly-owned subsidiary, Clean Fino-Chem Limited. The investment amounts to ₹50,00,00,358, including a premium of ₹588 per share. This capital infusion, totaling ₹50 crore, is intended for the subsidiary’s project funding, strengthening its financial capacity and supporting future growth initiatives.
Clean Science and Technology Boosts Subsidiary Capital
Clean Science and Technology Limited has significantly bolstered its wholly-owned subsidiary, Clean Fino-Chem Limited, by subscribing to an additional 8,36,121 equity shares. The total subscription money, including a premium of ₹588 per share, aggregates to ₹50,00,00,358, equating to a substantial capital injection of approximately ₹50 crore.
Strategic Investment for Project Funding
This latest investment is a continuation of Clean Science and Technology’s ongoing support for its subsidiary. The additional capital will be primarily allocated towards funding the ongoing projects of Clean Fino-Chem Limited. The new equity shares acquired by the parent company will rank pari passu with the existing equity shares, ensuring equitable rights and ownership within the subsidiary structure.
Subsidiary’s Business Focus
Clean Fino-Chem Limited, incorporated on March 22, 2022, operates within the Speciality Chemicals industry. The subsidiary is engaged in the manufacture and sale of specialty chemicals in India. The recent financial performance of Clean Fino-Chem Limited indicates a notable growth trajectory, with turnovers of ₹1.92 Crore for the financial year ending March 31, 2024, escalating to ₹46.77 Crore for the year ending March 31, 2025, and a projected ₹166 Crore for the year ending March 31, 2026.
Source: BSE
