Clean Science and Technology Limited has subscribed to 8,36,121 equity shares of Clean Fino-Chem Limited, its wholly owned subsidiary, through a rights issue.
The shares were issued at a face value of Rs 10 each with a premium of Rs 588 per share. The total subscription amount was Rs 50 crore, paid entirely in cash. The equity shares rank pari passu with the existing equity shares of Clean Fino-Chem Limited.
Clean Fino-Chem Limited was incorporated on 22 March 2022 as a wholly owned subsidiary of Clean Science and Technology Limited. The subsidiary is engaged in the manufacture and sale of specialty chemicals and operates in India.
Clean Fino-Chem reported a turnover of Rs 166 crore for the financial year ended 31 March 2026, compared to Rs 46.77 crore in FY25 and Rs 1.92 crore in FY24.
The additional capital raised through the rights issue will be used for funding the subsidiary's projects. Clean Science and Technology Limited held a 100% stake in Clean Fino-Chem Limited before the subscription, and the rights subscription maintains this full ownership.
The subscription was completed on 24 June 2026. The transaction was classified as a related party transaction since Clean Fino-Chem Limited is a wholly owned subsidiary of Clean Science and Technology Limited. Clean Science and Technology Limited confirmed that the promoters, promoter group, and group companies have no interest in the transaction besides the subsidiary relationship. The transaction was conducted at arm's length.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.