Race Eco Chain Limited disclosed an investment in its material subsidiary, Ganesha Recycling Chain Private Limited, through a regulatory filing under SEBI Listing Regulations Regulation 30.
Key Transaction Details
- Subsidiary: Ganesha Recycling Chain Private Limited
- Investment Type: 0.01% Compulsorily Convertible Cumulative Preference Shares (CCPS)
- Number of Shares Allotted: 93,379 CCPS
- Face Value: ₹10 per share
- Total Investment Amount: ₹4,66,89,500 (Four Crore Sixty Six Lakh Eighty Nine Thousand Five Hundred)
- Approval Date: Board meeting held on 07th September, 2026
- Post-Investment Ownership: 51% stake remains unchanged
Subsidiary Company Details
- Industry: Recycling
- Date of Incorporation: 10th September, 2024
- Authorized Capital: ₹10,00,00,000
- Paid-Up Capital: ₹7,73,00,000
- Paid-up Preference Capital: ₹9,33,790
- Geographic Presence: India
- Financial Performance:
- 2025 Turnover: ₹0.01 lakh
- 2026 Turnover: ₹21.19 lakh
Transaction Characteristics
- Related Party Transaction: Yes (as subsidiary is a related party)
- Arm's Length Basis: Confirmed as conducted at arm's length
- Promoter/Promoter Group Interest: None
- Government Approvals Required: Not applicable
- Consideration Type: Cash
Purpose of Investment
As part of overall corporate objective and business expansion strategy.