Race Eco Chain Ltd Invests INR 1,17,30,000 in Subsidiary Ganesha Recycling Chain Private Limited
Race Eco Chain Limited has completed a further investment in its subsidiary, Ganesha Recycling Chain Private Limited. The company invested INR 1,17,30,000 in the equity shares of the subsidiary through a subscription towards a Rights Issue.The transaction resulted in the allotment of 1,17,300 Equity Shares to Race Eco Chain Limited on July 17, 2026. Following this acquisition, the company maintains a 51 percent ownership stake in the subsidiary.
Investment Details and Subsidiary Profile
The investment was made on an arms length basis as part of the corporate objective to expand business operations within the recycling industry. Ganesha Recycling Chain Private Limited is an Indian company incorporated on September 10, 2024, and operates primarily in the domestic market.The following table provides the financial and structural details of the subsidiary:
| Parameter | Details |
|---|---|
| Target Entity Name | Ganesha Recycling Chain Private Limited |
| Industry | Recycling |
| Authorized Capital | INR 10,00,00,000 |
| Paid-Up Capital | INR 7,53,00,000 |
| Date of Incorporation | September 10, 2024 |
| Market Presence | India |
Transaction Overview
The acquisition was executed via a cash consideration. The total cost of the acquisition is INR 1,17,30,000, representing the value of the 1,17,300 Equity Shares allotted to Race Eco Chain Limited.As Ganesha Recycling Chain Private Limited is a subsidiary of the company, the transaction is classified as a related party transaction. The management stated that the investment serves as a strategic move to further the business growth of the group.
RACE Stock Price Movement
Race Eco Chain Limited shares rallied on Friday to close at ₹111.24, marking a gain of 2.94%. The stock finished the session with a total traded volume of 5,223 shares.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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