Kanoria Chemicals & Industries becomes subsidiary of Vardhan

Kanoria Chemicals & Industries has become a subsidiary of Vardhan with effect from December 28, 2012. This is pursuant to the shareholding of Vardhan, a part of the promoter group of the company, has increased to 53.99% of the total paid up equity share capital of the company as on December 28, 2012, due to decrease in the total paid up equity share capital of the company pursuant to the company’s ongoing offer of buyback of equity shares and extinguishment thereof up to the said date as per the applicable laws.

Kanoria Chemicals & Industries is engaged in the manufacture and sale of chemical intermediates in India. It offers chlor-alkalis, chlorine derivatives, and water treatment chemicals, as well as alcohol-based intermediates.