Race Eco Chain Ltd

Target and investment

• Target: Ganesha Recycling Chain Private Limited; Indian recycling company; Race Eco Chain's subsidiary.
• Turnover: 2025 Rs 0.01 lakh; 2026 Rs 21.19 lakh.
• Authorised capital: Rs 10 crore; Paid-up capital: Rs 7.73 crore.
• Related party transaction; investment at arms' length; promoter group has no interest.
• Industry: Recycling.
• Investment amount Rs 1.02 crore via cash subscription for 51% stake.
• Allotted 1,02,000 equity shares on 14 August 2026.
• Percentage stake acquired: 51% equity shares.
• Purpose: expand business; align with corporate objective; target within related line.
• Regulatory approvals: Not Applicable.
• Background: incorporated 10/09/2024; presence in India; 2025 turnover Rs 0.01 lakh; 2026 Rs 21.19 lakh.

Board meeting outcomes

• Board meeting held on 12 August 2026 at 03:00 PM.
• Approved unaudited standalone and consolidated results for quarter ended 30 June 2026 with Limited Review.
• M/s Modi Harsh & Co appointed internal auditors for FY 2026-27.
• Akshay Singhla & Associates appointed statutory auditors five years from 26th AGM to 31st AGM, subject to approval.
• Sunil Kumar Malik re-appointed as Managing Director for three years from 02 Oct 2026, subject to members' approval.
• AGM fixed for 26 September 2026; Annual Report for FY 2025-26 approved.

Target and stake

• Target: Ganesha Recycling Chain Private Limited; 51% stake acquired.

Investment details

• Investment: Rs 1,17,30,000 for 51% stake.
• Cash consideration.
• Paid-up capital Rs 7.53 crore; Authorized Rs 10 crore.

Timing

• Shares allotted on 17 July 2026.

Related party status

• GRCP is a related party.
• Promoter/promoter group has no interest.
• Investment at arms' length.

Rationale and background

• Reason: expand business within recycling.
• Target background: incorporated 10/09/2024; Indian recycling company; turnover not disclosed.
• Industry: Recycling.

Regulatory approvals

• Not applicable.

Demat/remat processing status

• Certificate under Regulation 74(5) submitted by the RTA.
• No processing status details for dematerialisation/rematerialisation provided.
• No information on mutilation or cancellation or depository's name substitution as registered owner.

Conclave participation

• Participation in 3rd Global Conclave on Plastic Recycling and Sustainability (2–5 July 2026, New Delhi) at Bharat Mandapam.