Race Eco Chain Subsidiary Invests ₹2 Cr in Step-Down Unit

Race Eco Chain's subsidiary Ganesha Recycling invested ₹2 crore in its step-down subsidiary GEM Polymers.
The investment involved subscribing to 200,000 equity shares at face value ₹10 each, acquiring a 49% stake.
GEM Polymers is a newly incorporated recycling company with no turnover since its January 2024 incorporation.
The transaction qualifies as a related party transaction but was conducted at arm's length with no promoter interest.