Mitsu Chem Plast surges 2% on incorporation of wholly-owned subsidiary

The Foundation is yet to commence its business operation.

Oct 20, 2021 11:10 IST India Infoline News Service

Mitsu Chem Plast Ltd has informed in a regulatory filing that Mitsu Foundation is incorporated as a Wholly Owned Subsidiary of the Company on October 18, 2021.

Mitsu Foundation is incorporated to promote, encourage, support Corporate Social Responsibility Activities.

Also, to support rural and slum area development projects and promotion of disaster management including relief, rehabilitation and reconstruction activities.

The Company has subscribed 10,000 Equity shares of face value of Rs. 10/- (Rupees Ten only) each aggregating to Rs1,00,000 (Rupees One Lakh only).

The Foundation is yet to commence its business operation.

At around 12:00 PM, Mitsu Chem Plast was trading at Rs276 per piece higher by 2.20% on the BSE.

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