Chemcrux Enterprises has received in-principal approval from board of directors of the company to acquire and/or subscribe 5000 equity shares of Rs 10 each (50%) of Kalichem. On completion of the proposed acquisition, Kalichem will be classified as a Wholly Owned Subsidiary Company and will no longer be considered as a Joint Venture Company.
The business is in same line as that of the main line of business of the listed entity. The proposed acquisition is expected to be completed before March 31, 2025, subject to compliance with stipulations, consents and necessary approvals.
Chemcrux Enterprises is engaged in high pressure Oxidation, Chlorosulfonation, Nitration and Aceylation forb manufacturing of intermediates for bulk drugs, dyes and pigments.
