ShreeHari Chemicals Invests Rs. 5 Crore in Wholly-Owned Subsidiary's Rights Issue

Shree Hari Chemicals Export Limited has announced a significant investment in its wholly-owned subsidiary, Shakambhari Dyechem Private Limited (SDPL). The company has invested Rs. 5 crore in SDPL's rights issue, acquiring 50 lakh equity shares at a par value of Rs. 10 each.

Investment Details

Aspect	Details
Investor	Shree Hari Chemicals Export Limited
Investee	Shakambhari Dyechem Private Limited (SDPL)
Investment Amount	Rs. 5.00 crore
Shares Acquired	50 lakh equity shares
Share Par Value	Rs. 10.00 each
Type of Issue	Rights Issue

Purpose and Impact

The investment is aimed at funding SDPL's capital expenditure requirements for its proposed expansion. SDPL, as a wholly-owned subsidiary of Shree Hari Chemicals, is engaged in the manufacturing of synthetic organic chemicals and dye intermediates.

Subsidiary Profile

Aspect	Details
Company Name	Shakambhari Dyechem Private Limited (SDPL)
Business Focus	Manufacturing of synthetic organic chemicals and dye intermediates
Relationship to Shree Hari Chemicals	Wholly-owned subsidiary
Environmental Clearance	Granted by State Environment Impact Assessment Authority (SEIAA)

This strategic investment underscores Shree Hari Chemicals' commitment to expanding its presence in the chemical manufacturing sector. By strengthening its subsidiary's financial position, the company aims to capitalize on growth opportunities in the synthetic organic chemicals and dye intermediates market.

The move is expected to enhance SDPL's production capabilities, potentially leading to increased market share and improved financial performance for the Shree Hari Chemicals group as a whole. However, the actual impact of this investment on the company's future performance remains to be seen and will depend on various market factors and the successful implementation of SDPL's expansion plans.

Investors and stakeholders should monitor future announcements from Shree Hari Chemicals for updates on the progress of SDPL's expansion and its impact on the group's overall performance.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.03%	-7.52%	+38.49%	-16.40%	+25.45%	+477.09%

Shree Hari Chemicals Export Limited has announced a significant development for its wholly owned subsidiary, Shakambhari Dyechem Private Limited. The State Environment Impact Assessment Authority (SEIAA) has granted Environmental Clearance to Shakambhari Dyechem, permitting the manufacturing of Synthetic Organic Chemicals and Dye Intermediates.

Key Details

Aspect	Information
Parent Company	Shree Hari Chemicals Export Limited
Subsidiary	Shakambhari Dyechem Private Limited
Clearance Granted By	State Environment Impact Assessment Authority (SEIAA)
Clearance For	Manufacturing of Synthetic Organic Chemicals and Dye Intermediates

Timeline of Events

This recent development follows a previous intimation made by the company in April, indicating that the process has been ongoing for several months. The company officially informed the BSE Limited about this update on October 27, in compliance with its listing obligations and disclosure requirements.

Implications

The environmental clearance marks a crucial step for Shakambhari Dyechem Private Limited, allowing it to proceed with its plans to manufacture Synthetic Organic Chemicals and Dye Intermediates. This approval may potentially expand the subsidiary's operational capabilities and contribute to the overall business activities of Shree Hari Chemicals Export Limited.

Corporate Governance

The timely disclosure of this information demonstrates Shree Hari Chemicals' commitment to transparency and adherence to regulatory requirements. The announcement was made through proper channels, with the company's Chairman & Managing Director, B.C. Agrawal, signing off on the official communication to the BSE.

Stakeholders may be interested in future announcements regarding the implementation of manufacturing operations and potential impacts on the company's financial performance.