Clean Science and Technology, one of the largest manufacturers globally of speciality chemicals, acquires 100% shareholding of Clean Fino-Chem Limited (“CFCL”).
Clean Science and Technology (CSTL) (https://cleanscience.co.in/) has subscribed to the additional 8.36 lakh equity share of face value of Rs.10. The Company acquires each share at a premium of Rs. 588/- for cash, aggregating to Rs. 50 crores.
After the subscription, Clean Fino-Chem Limited become a wholly owned subsidiary of the Company. The company informs the exchange regarding acquisition on Friday, September 6, 2024.
About Clean Fino-Chem Limited
CFCL was incorporated on March 2022 as a wholly owned subsidiary of CSTL in India to manufacture and sale speciality chemicals.
The Company has achieved turnover of Rs. 1.92 crores in Financial Year 2024.
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