Mangalam Organics has acquired 40,000 equity shares of Mangalam Pooja Stores (MPSPL), a Subsidiary Company on March 31, 2023 at a price of Rs 10 per equity share, out of the total 50,000 equity shares of face value of Rs 10 each allotted by MPSPL under Preferential issue.
As a result of this investment, the shareholding of the company in MPSPL has decreased from 100% to 90% resulting into MPSPL becoming a subsidiary company from a wholly owned subsidiary.
Mangalam Organics is primarily manufacturing Pine Chemicals such as Terpene Chemistry: Camphor, Camphene, Isobornyl Acetate, Isoborneol, Dipentene and Sodium Acetate and Synthetic Resins: Terpene Phenolic Resin, Alkyl Phenolic Resin, Rosin Based Resins.
