Vinati Organics incorporates new entity Veeral Organics

By virtue of the subscription, Veeral Organics becomes the subsidiary of the company with effect from October 5, 2020.

Oct 06, 2020 01:10 IST India Infoline News Service

Vinati Organics
Vinati Organics Ltd. intimated the exchanges Monday about incorporation of new entity Veeral Organics Private Limited as subsidiary of the company.

“Vinati Organics Ltd. has subscribed to the Memorandum & Articles of Associations to the extent of 99% of the Share Capital of Veeral Organics Private Limited which has been incorporated under the Indian Companies Act, 2013 on October 5, 2020,” company said.

By virtue of the same subscription, Veeral Organics Private Limited becomes the subsidiary of the company with effect from October 5, 2020.
The price of equity shares was Rs99,000. Vinati Organics subscribed to the 9900, Equity shares of face value of Rs10 each of Veeral Organics.

Vinati Organics Ltd is currently trading at Rs1,294.20 up by Rs0.35 or 0.03% from its previous closing of Rs1,293.85 on the BSE.

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