Race Eco Chain Limited has disclosed, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that its subsidiary M/s. Ganesha Recycling Chain Private Limited has made an investment of Rs. 2,00,00,000 (Rupees Two Crore Only) in M/s. GEM Polymers Private Limited. GEM Polymers Private Limited is both a subsidiary of Ganesha Recycling Chain Private Limited and a step-down subsidiary of Race Eco Chain Limited. The intimation was filed on 12th May, 2026, in compliance with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Investment Details

As part of this fund infusion, Ganesha Recycling Chain Private Limited subscribed to 2,00,000 equity shares of M/s. GEM Polymers Private Limited at a face value of Rs. 10/- each, aggregating to Rs. 2 crore. The consideration for the transaction was made entirely in cash. The following table summarises the key parameters of the investment as disclosed:

About GEM Polymers Private Limited

GEM Polymers Private Limited is an Indian company incorporated on 04th January, 2024, engaged in the business of recycling. The company currently operates in the Indian market. As the company was incorporated on 04th January, 2024, its reported turnover stands at Nil, and historical turnover data is not applicable.

Related Party Transaction and Corporate Objective

The investment by Ganesha Recycling Chain Private Limited in GEM Polymers Private Limited falls under the purview of related party transactions. However, as disclosed, no promoter, promoter group, or group companies have any interest in the entity being acquired. The transaction has been undertaken as part of Race Eco Chain's overall corporate objectives and to expand its business operations, with Ganesha Recycling Chain Private Limited contributing the investment amount for a 49% stake in GEM Polymers Private Limited post-investment. No governmental or regulatory approvals were required for this acquisition.

Race Eco Chain Limited has reported two significant corporate developments: the resignation of its Chief Financial Officer (CFO) Mr. Piyanshu Sharma, effective from the closing hours of 12 May 2026, and an investment of ₹2 Crore by its subsidiary Ganesha Recycling Chain in step-down subsidiary Gem Polymers through the acquisition of 200,000 equity shares at face value. Both disclosures were made in compliance with applicable regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

CFO Resignation

Mr. Piyanshu Sharma has stepped down from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of Race Eco Chain Limited, citing personal commitments requiring his attention. He confirmed in his resignation letter that there are no other material reasons for his resignation beyond those stated therein. The key details of the resignation, as disclosed by the company, are summarised below:

Race Eco Chain placed on record its appreciation for the services rendered by Mr. Piyanshu Sharma and acknowledged his contribution during his tenure as CFO, noting that he has had a significant contribution to its growth. The company has stated that it is in the process of identifying and appointing a suitable candidate for the position of CFO and KMP, and the appointment, once finalised, will be intimated to the stock exchanges in accordance with applicable regulations.

Subsidiary Investment in Gem Polymers

In a separate development, Race Eco Chain's subsidiary Ganesha Recycling Chain has invested ₹2 Crore in step-down subsidiary Gem Polymers through the purchase of 200,000 equity shares at face value. The key details of the investment are outlined below:

Regulatory Compliance

The resignation intimation was filed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI master circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The disclosure was signed by Shiwati, Company Secretary and Compliance Officer of Race Eco Chain Limited.