Race Eco Chain (NSE:RACE, BOM:537785) said it has invested 25.5 million Indian rupees in subsidiary Ganesha Recycling Chain, through a rights issue, according to a Tuesday filing with the Indian exchanges.
The company was allotted 255,000 equity shares at 100 rupees per share, including a 90 rupees premium.
Following the investment, Race Eco Chain's stake in the subsidiary remains unchanged at 51%, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.