Clean Science and Technology invests Rs 50 crore in subsidiary Clean Fino-Chem
Clean Science and Technology Limited (CSTL) has infused fresh capital into its wholly owned subsidiary, Clean Fino-Chem Limited (CFCL), by subscribing to additional equity shares worth Rs 50 crore. The investment is aimed at supporting upcoming projects within CFCL's operations in the specialty chemicals sector.
As per the company's regulatory filing dated April 22, 2025, CSTL subscribed to 8,36,121 equity shares of face value Rs 10 each at a premium of Rs 588 per share. The total transaction value stands at Rs 50,00,00,358. The shares have been allotted under a rights issue and will rank pari passu with existing equity shares.
The company clarified that the transaction qualifies as a related party deal since CFCL is a wholly owned subsidiary. However, it added that the investment has been made at arm's length and does not involve any undue interest from the promoter group beyond the ownership structure.
Clean Fino-Chem Limited, incorporated in March 2022, operates in the specialty chemicals industry and focuses on manufacturing and sales in India. The additional capital raised through this transaction will primarily be used to fund CFCL's ongoing and future projects. The company reported a turnover of Rs 1.92 crore for FY24, marking its initial operations phase.
The transaction reinforces CSTL's commitment to expanding its capabilities and presence in the specialty chemicals space, with a focus on vertical integration and capacity building through its subsidiaries.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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