Briefs: DCM Shriram, Asian Paints and Vinati Organics
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Briefs: DCM Shriram, Asian Paints and Vinati Organics

Vinati Organics invests Rs. 55.8 crore Veeral Organics

  • By ICN Bureau | June 28, 2024

DCM Shriram commissions 120 MW captive power plant

DCM Shriram Ltd has commissioned its captive 120 MW state-of-the-art Power Plant at its chemical complex in Jhagadia, Bharuch. This project will help in driving cost efficiencies at Bharuch Complex.

Asian Paints acquires additional 24.3% stake in Egyptian SCIB Chemicals for Rs. 34 Cr

Asian Paints International Private Limited (APIPL), Singapore, a whollyowned subsidiary of the Company, had entered into a Share Purchase Agreement with certain minority shareholders of its subsidiary, SCIB Chemicals S.A.E., Egypt (SCIB) and SCIB, for the acquisition of 24.3% of the share capital of SCIB for a consideration of US$ 4.13 million (~Rs. 34.42 crores) subject to the completion of certain formalities relating to the transfer of shares and such approvals as may be required as per Egyptian local laws.

APIPL now holds 85.6% stake in SCIB.

Vinati Organics invests Rs. 55.8 crore Veeral Organics

Vinati Organics invested an additional Rs. 55.8 crore in its subsidiary, Veeral Organics. The company subscribed to an additional 55,770,950 equity shares of the face value of Rs. 10 in the rights issue of Veeral Organics. Veeral Organics is engaged in the manufacturing of organic fine specialty chemicals.

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