Insecticides India forms 'IIL Biologicals' as wholly-owned subsidiary; Stock gains 1%

21 Jul 2022 , 10:25 AM

Insecticides India Ltd has incorporated a wholly-owned subsidiary namely ‘IIL Biologicals Limited’ on July 15, 2022.

According to the regulatory filing. the wholly owned subsidiary company is a related party of the company wherein Rajesh Aggarwal, Managing Director of the Company and Sansakar Aggarwal (Promoter Group of the Company) are the Directors on the Board of the newly incorporated wholly owned subsidiary.

IIL Biologicals Limited shall carry on the business of all kind of Organic and Biological farming fertilizers, bio-pesticides, bio-control agents. It will manufacture, sale and purchase the allied products across different areas.

At around 10:26 AM, Insecticides India was trading at Rs988.15 per share up by Rs8.8 or 0.9% from its previous closing of Rs979.35 per share on the BSE.