By: ICN Bureau
Last updated : February 16, 2026 3:34 pm
This joint venture investment, approved by Indian and South Korean regulators, was finalized at a par value of KRW 500 per share plus premium
Acutaas Advance Material Limited (formerly Baba Advance Materials Limited), a wholly-owned subsidiary of Acutaas Chemicals Limited, has acquired a 75% controlling stake in South Korea-based Indichem Inc. This strategic acquisition of the joint venture company enhances Acutaas's expansion into the global semiconductor specialty chemicals market.
The acquisition of shareholding in JV company has strengthened its global semiconductor specialty chemicals portfolio by acquiring a 75% stake (300,000 shares) in Indichem Inc. This joint venture investment, approved by Indian and South Korean regulators, was finalized at a par value of KRW 500 per share plus premium.
Indichem is into the business of manufacture of speciality chemicals for semiconductor industry catering to South Korean and Global Market. Construction and capex works of company’s manufacturing plant in South Korea is in progress and is slated to be commissioned by the end of the current calendar year.
Ami Organics Limited has been renamed as Acutaas Chemicals Limited