Fine Organic Industries has further invested by subscribing to 5,50,00,000 - 1% Non-Convertible, Non-Cumulative, Non-Participating, Redeemable Preference Shares (NCCPRPS) of face value of Rs 10 each issued by Fine Organic Industries (SEZ), Wholly Owned Subsidiary (WOS) of the Company, aggregating to Rs 55 crore.
The object of this investment is to support the WOS for setting up the manufacturing unit. There will be no change in shareholding of the company in Fine Organic Industries (SEZ). Fine Organic Industries (SEZ) will continue to remain a wholly owned subsidiary of the Company.
Fine Organic Industries produces a wide range of specialty plant derived oleochemical -based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries.
