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Privi Speciality Chemicals Limited ( (IN:PRIVISCL) ) has provided an update.
Privi Speciality Chemicals Limited’s board has approved a Scheme of Amalgamation to merge Privi Fine Sciences Private Limited and Privi Biotechnologies Private Limited, its wholly owned subsidiary, into the listed parent company. The proposed restructuring, carried out under the Companies Act and subject to approvals from shareholders, creditors, the National Company Law Tribunal and regulators, will dissolve the transferor entities without winding up while issuing Privi Speciality shares to shareholders of Privi Fine Sciences based on an independent valuation and fairness opinion, consolidating assets, turnover and net worth within the listed entity and simplifying the group structure as a related-party transaction executed at arm’s length.
More about Privi Speciality Chemicals Limited
Privi Speciality Chemicals Limited is an Indian specialty chemicals manufacturer based in Navi Mumbai, focused on niche chemical products and related fine sciences and biotechnology through its subsidiaries Privi Fine Sciences Private Limited and Privi Biotechnologies Private Limited. The group operates in the specialty and fine chemicals space, supplying value-added products and solutions to industrial customers, and has been expanding its capabilities via wholly owned and related entities to strengthen its position in this segment.
Average Trading Volume: 5,531
Technical Sentiment Signal: Buy
Current Market Cap: 118.3B INR
Learn more about PRIVISCL stock on TipRanks’ Stock Analysis page.