Chemcrux Enterprises Ltd Incorporates Wholly Owned Subsidiary for CSR Initiatives
Chemcrux Enterprises Limited has announced the successful incorporation of its wholly owned subsidiary, Chemcrux Foundation. The entity was established as a Section 8 company under the Companies Act, 2013, with the primary objective of fulfilling the corporate social responsibility (CSR) obligations of the company.The newly formed foundation is intended to promote commerce, art, science, sports, education, research, social welfare, healthcare, and charity. It also aims to support activities related to environmental protection and other objectives enumerated in Schedule VII of the Companies Act, 2013.
Transaction Details and Structure
Chemcrux Enterprises Limited has acquired a 100% stake in Chemcrux Foundation. The acquisition was executed through cash consideration. As a wholly owned subsidiary, Chemcrux Foundation is considered a related party of the company, involving common directors and promoters.The entity is currently in its foundational stage and has not yet commenced business operations. The transaction involves the issuance of 10,000 equity shares at a face value of Rs. 10 per share.
| Feature | Details |
|---|---|
| Target Entity Name | Chemcrux Foundation |
| Type of Entity | Section 8 Company (Non-profit) |
| Country of Incorporation | India |
| Shareholding Acquired | 100% |
| Authorized and Paid-up Capital | Rs. 1,00,000 |
| Consideration Type | Cash Consideration |
| Cost of Acquisition | Rs. 1,00,000 (10,000 shares at Rs. 10 each) |
Operational Context
The incorporation was finalized on July 17, 2026, under the jurisdiction of the Registrar of Companies in Ahmedabad, Gujarat. While the entity is established to manage social welfare and developmental projects, it currently maintains no turnover as it prepares to begin its formal operations.This move aligns with the company's strategic framework to streamline and execute its CSR commitments through a dedicated legal vehicle.
Stock Price Movement
Chemcrux Enterprises Ltd shares settled at ₹89.20 on Friday, sliding 1.04% after the close of trade today. The stock saw notable volatility as it swung between an intraday low of ₹88.35 and a high of ₹91.19.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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