Asia
Crestchem's Subsidiary Forms New Subsidiary
Speciality chemical company Crestchem (BOM:526269) has formed a new subsidiary named Oleo Biosciences with a 75% stake in the latter, according to a BSE filing on Thursday.The company invested 750,000 rupees for 75,000 equity shares of 10 rupees each in the new entity.The subsidiary has been incorporated to establish a pilot-scale manufacturing facility and product development facility in the southern region of India.The project is in the initial stages, and the company has not yet made any purchase orders for plant and machinery, the statement said.The company's shares were up over 4% in recent trade.
BOM:526269
