Clean Science -; Technology board approves additional investment of Rs150 crore in subsidiary

21 Oct 2022 , 11:33 AM

Clean Science & Technology Limited has informed that the Board of Directors at their meeting held on Thursday approved additional investment of upto Rs150 crore in one or more tranches in the Equity Shares of Clean Fino-Chem Limited, a Wholly Owned Subsidiary.

CFCL is a related party of Clean Science and Technology Limited (“CSTL”)

As per the filing, CFCL is in process of setting up manufacturing facility for its speciality chemical business. The additional capital will be used for funding its green field projects.

CFCL was incorporated on March 22, 2022 as a Wholly Owned Subsidiary of Clean Science and Technology Limited. CFCL will be engaged in the business of manufacture and sale of speciality chemicals, the company said.

At around 11:33 AM, Clean Science & Technology Ltd is currently trading at Rs1,647.15 per share up by Rs36.75 or 2.28% from its previous closing of Rs1,610.40 per share on the BSE.

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