Vinati Organics has subscribed to the additional 4,10,25,000 fully paid-up equity shares of the face value of Rs 10/- each at par of its wholly owned subsidiary -- Veeral Organics, amounting to Rs 41.02 crore by way of subscription towards the rights issue. The shares rank pari-passu to existing equity shares of the company.
The main business object of Veeral Organics is the manufacturing of organics fine specialty chemicals which is in line with the business of the company.
Vinati Organics, established in 1989, is a specialty chemical company, focusing on manufacturing specialty chemicals and organic intermediaries.
