Race Eco Chain Limited has completed the 99.33% Equity shares (Including Existing holding of 0.65%) of Abhay Innovative Recycling Limited on 14th July, 2023 by way of Right Issue allotment.
Consequent to the above acquisition of shares, Abhay Innovative Recycling Limited will become a Subsidiary of the Company.
The cost of the acquisition of the 98.69% Equity Shares of Abhay Innovative Recycling Limited, was Rs. 3,75,00,000.