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Chemical stock jumps 4% after it invests ₹39.65 Cr in its subsidiary to expand its specialty chemical business

Chemical stock subscribes to 3,96,50,000 additional shares in Veeral Organics Pvt. Ltd., valued at ₹39.65 crore, reinforcing its commitment to supporting subsidiary growth and development.
Chemical stock invests ₹39.65 crore in Veeral Organics, reinforcing commitment to subsidiary growth and development.
Chemical stock invests ₹39.65 crore in Veeral Organics, reinforcing commitment to subsidiary growth and development.

Introduction:

Chemical stock subscribes to an additional 3,96,50,000 equity shares in its wholly-owned subsidiary, Veeral Organics Pvt. Ltd., valued at ₹39.65 crore. This move highlights the company’s continued investment in its subsidiary’s growth and operations.

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Share Price movement of Vinati Organics:

As of today, December 9, 2024, Vinati Organics Ltd (NSE: VINATIORGA) share price rose by 3.31%, opening at ₹1814.95 and reaching an intraday high of ₹1935.00. The stock closed at ₹1873.70, up from ₹1813.75, with a market cap of ₹19,423.83 crores.

Vinati Organics New Investments:

Vinati Organics Limited has informed that it has subscribed to an additional 3,96,50,000 fully paid-up equity shares of Veeral Organics Pvt. Ltd., its wholly-owned subsidiary. The subscription is valued at ₹39,65,00,000, and the shares are issued at par with a face value of ₹10 each.

This investment is part of the rights issue by Veeral Organics Pvt. Ltd., and the newly subscribed shares will rank pari-passu to the existing equity shares of the company. This move reflects Vinati Organics’ continued commitment to supporting its subsidiary’s growth and operations.

The company has formally notified this development under Regulation 30 of the SEBI (LODR) Regulations, 2015. This subscription enhances Vinati Organics’ position in its subsidiary, reinforcing its strategic investment in the chemical and organic products sector.

Read More: PSU stock jumps after it receives order worth ₹432 Cr from Central University of Odisha 

Recent news About Vinati Organics:

On November 18, 2024, Vinati Organics highlighted that its expanded product portfolio and increased production capacity would drive growth. The new ATBS production line is expected to start operations by February 2025, with significant revenue contributions anticipated in FY26. ATBS, a versatile vinyl monomer, is used in textiles, flocculants, and various other applications.

Stock performance of Vinati Organics for Period of 1 week, 6 months and 1 year:

Vinati Organics’ stock has declined by 3.48% over the past week and 3.01% over the last six months. However, it has shown a positive return of 5.80% over the past year, reflecting a mixed performance across short-term and long-term periods.

Read More: EV stock jumps 9% after Vijay Kedia buys fresh stake in the company

Shareholding pattern of Vinati Organics:

All values in %Sep-24Jun-24Mar-24
Promoters74.2874.2874.28
FII5.485.334.93
DII7.286.757.31
Retail & others12.9513.6313.45
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About Vinati Organics:

Vinati Organics Ltd. is a leading manufacturer of specialty chemicals and organic compounds, catering to global markets. The company produces key products for industries like pharmaceuticals, agrochemicals, and petrochemicals, with a focus on innovation, quality, and sustainable growth.


Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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