Race Eco Chain Subsidiary Infuses Rs. 2 Crore in Step-Down Subsidiary GEM Polymers Private Limited
Published on: May 12, 2026, 11:52 p.m. | Source: scanx.trade
Race Eco Chain Limited's subsidiary, Ganesha Recycling Chain Private Limited, has invested Rs. 2,00,00,000 (Rupees Two Crore Only) in step-down subsidiary GEM Polymers Private Limited, subscribing to 2,00,000 equity shares at a face value of Rs. 10/- each. This acquisition results in a 49% equity stake in GEM Polymers Private Limited and was executed through cash consideration. The transaction, classified as a related party transaction with no promoter interest, aligns with the company's corporate objectives to expand its recycling business. GEM Polymers Private Limited, incorporated on 04th January, 2024, currently operates in the Indian recycling sector with no reported turnover.
