Vinati Organics Incorporates New Subsidiary

Vinati Organics Ltd. informed the stock exchanges about incorporation of new entity Veeral Organics Private Limited as subsidiary of the company.

“Vinati Organics Ltd. has subscribed to the Memorandum & Articles of Associations to the extent of 99% of the share capital of Veeral Organics Private Limited, which has been incorporated under the Indian Companies Act, 2013 on October 5, 2020,” the company stated.

By virtue of the same subscription, Veeral Organics Private Limited becomes the subsidiary of the company with effect from October 5, 2020.

Veeral Organics Private Limited will be focusing on manufacturing specialty chemicals and organic intermediaries.

Vinati Organics recently announced capital expenditure of Rs 150 crore for the production of four new specialty chemical products for the agrochemical, dye and plastic additive industries and the expansion of its capacity for para-tert-butylbenzoic acid.

The company’s strategy is to manufacture niche value added products to grow its revenue.