Fine Organic Industries Limited has successfully completed the acquisition of an 80% equity stake in Oleofine Organics SDN. BHD. (“OFM”) for RM 34,208,000. This strategic move makes OFM a subsidiary of Fine Organics. Concurrently, the company, along with OFM, now controls over 50% of the voting power in Fine Organic Industries (Thailand) Co., Ltd. (“FOIT”), leading to FOIT also becoming a subsidiary. Both acquisitions are effective from September 9, 2026.
Fine Organics Expands Footprint with Key Acquisitions
Fine Organic Industries Limited announced today the successful completion of its acquisition of an 80% equity stake in Oleofine Organics SDN. BHD. (“OFM”). The transaction, valued at RM 34,208,000 (approximately INR 80.16 crore), was finalized on September 9, 2026. This strategic acquisition marks a significant expansion for Fine Organics, integrating OFM, a Malaysian specialty chemicals company, into its corporate structure as a new subsidiary.
Consolidation of Control and New Subsidiaries
Following the acquisition of OFM, Fine Organic Industries Limited, in conjunction with its newly acquired subsidiary, now exercises control exceeding one-half of the total voting power in Fine Organic Industries (Thailand) Co., Ltd. (“FOIT”). This consolidation of influence means that FOIT, a Thai-based specialty chemicals firm, has also officially become a subsidiary of Fine Organics, effective from September 9, 2026. These developments align with the company’s stated growth strategy in the specialty chemicals sector.
Deal Rationale and Financials
The acquisition of OFM was executed on an arm’s length basis, involving related party transactions to the extent of shares acquired from Smoothex Chemicals Private Limited, a promoter group entity. OFM reported a turnover of RM 23,287,742 (approximately INR 54.17 crore) for the financial year ended January 31, 2026, and a net worth of RM 34,245,075 (approximately INR 79.65 crore) as of the same date. FOIT, on the other hand, had a turnover of THB 101,172,263 (approximately INR 28.87 crore) for the financial year ended December 31, 2025, and a net worth of THB 122,386,736 (approximately INR 34.92 crore).
Source: BSE
