Bodal Chemicals Ltd. has incorporated PT Bodal Chemicals Indonesia in Jakarta as a Wholly Owned Subsidiary company. The company has subscribed to the paid-up Share Capital consisting of 25 lakh shares at a price of Rp 1,000/-per share for an aggregate consideration of Rp 250cr equivalent to Indian Rs1.27cr (approx.)
The authorized capital of the new subsidiary of Bodal Chemicals is 1cr shares of Indonesia Rupiah (Rp) 1,000/- per share aggregating to Rp 10 billion, company said in its filing on Tuesday.
“Trading (including wholesale trade) of Dyes and other related Chemicals and Basic Chemicals lnitredients,” Bodal Chemicals said about the object of acquisition.
Bodal Chemicals Ltd trade on Tuesday ended at Rs102.35 per piece up by Rs3.7 or 3.75% from its previous closing of Rs98.65 per piece on the BSE.