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An update from Race Eco Chain Ltd. ( (IN:RACE) ) is now available.
Race Eco Chain Ltd. has injected INR 1.02 crore into its subsidiary Ganesha Recycling Chain Private Limited via a rights issue, receiving 102,000 new equity shares. The move, funded in cash and executed on an arm’s-length basis as a related-party transaction, is aimed at supporting business expansion in the recycling segment.
Following this investment, Race Eco Chain’s ownership in Ganesha Recycling Chain remains at 51 percent, preserving its controlling stake in the subsidiary. The transaction underscores the parent company’s commitment to building scale in recycling operations and aligns with its overall corporate objective to grow within its core line of business.
More about Race Eco Chain Ltd.
Race Eco Chain Ltd. operates in the recycling sector through subsidiaries such as Ganesha Recycling Chain Private Limited. The group focuses on expanding its presence in recycling-related businesses as part of its broader corporate growth strategy in India.
Average Trading Volume: 3,659
Technical Sentiment Signal: Sell
Current Market Cap: 2.16B INR
See more insights into RACE stock on TipRanks’ Stock Analysis page.