Acutaas Advance Material Acquires 75% Stake in South Korea's Indichem for ₹200 Cr Capex
Acutaas Advance Material Ltd has acquired a 75% controlling stake in Indichem Inc, making it a step-down subsidiary. The acquisition aligns with Acutaas's entry into the semiconductor chemicals sector in South Korea. The transaction involved a cash purchase of 300,000 shares. Indichem's manufacturing plant is under construction and expected to be operational by the end of the year, with a total investment of ₹200 crore planned for the joint venture.
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Acutaas Advance Material Ltd, a subsidiary of Acutaas Chemicals Ltd, has completed the acquisition of a 75% stake in Indichem Inc, which is now a step-down subsidiary. This acquisition is part of Acutaas's entry into the semiconductor chemicals market in South Korea.
The transaction involved purchasing 300,000 shares at a par value of KRW 500 per share. Indichem's manufacturing facility is under construction and expected to be commissioned by the end of 2026. Acutaas plans to invest around ₹200 crore in the joint venture, having already invested ₹130 crore.
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