Further to our letter dated December 27 2020 and December 30 2020 we would like to inform that the Company has completed the acquisition of controlling stake of 51% in SciTech Specialities Private Limited (CIN: U85190MH2007PTC175484 and date of incorporation: 29 October 2007) [SSPL] by way of subscription to the issue of 492 630 equity shares of SSPL and purchase of 27 778 equity shares from few selling shareholders of SSPL aggregating to 520 408 equity shares i.e. 51% of paid-up share capital of SSPL.
Accordingly SSPL has become subsidiary (51%) of the Company effective from January 11 2021.
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