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Archean Chemical Industries Ltd. ( (IN:ACI) ) has issued an update.
Archean Chemical Industries Ltd. has entered into a Rs 150 crore unsecured loan agreement with its wholly owned subsidiary Neun Infra Private Ltd. to provide interim funding support for its semiconductor-focused activities. Neun Infra is the holding company of SiCSem Private Ltd., which has received approval under the India Semiconductor Mission to set up a compound semiconductor and ATMP manufacturing facility, and the funding will enable procurement of long-lead machinery, equipment, and related project expenditures, as well as silicon carbide R&D in collaboration with IIT Bhubaneswar, ahead of the formal fiscal support agreement with the Government of India. The loan, part of a sanctioned Rs 300 crore facility with Rs 157 crore outstanding, carries a 7.5% annual interest rate, is repayable over five years starting in FY 2029-30, and is structured as an arm’s-length related-party transaction, underscoring Archean Chemical’s strategic push into semiconductor manufacturing and its intent to maintain project timelines under the national mission framework.
More about Archean Chemical Industries Ltd.
Archean Chemical Industries Ltd. is an India-based specialty chemical manufacturer, with operations that include industrial and allied chemical products. The company is increasingly aligning its capital allocation toward high-tech sectors, using its wholly owned subsidiaries as vehicles to participate in India’s emerging semiconductor and advanced manufacturing ecosystem.
Average Trading Volume: 14,438
Technical Sentiment Signal: Sell
Current Market Cap: 61.38B INR
For detailed information about ACI stock, go to TipRanks’ Stock Analysis page.