Fermenta Biotech makes further investment in FESPL
There will be no change in the percentage of shareholding of the company in FESPL
Fermenta Biotech has made further investment in Fermenta Environment Solutions (FESPL), a wholly-owned subsidiary of the Company. FESPL has allotted 79,00,000 equity shares of Rs 10 each, on right issue basis, for a consideration of Rs 7.90 crore. There will be no change in the percentage of shareholding of the company in FESPL. It will continue to remain a wholly-owned subsidiary of the company.
FESPL is a recently incorporated wholly-owned subsidiary of the company and would require funds for its working capital management and other business related expenditures. Therefore, the investment is made.
Fermenta Biotech possesses a growing portfolio of nutrition including customized Premixes, Fortified Rice Kernel (FRK) and other nutritional ingredients. Apart from its nutrition portfolio, the company is one of the world’s leading manufacturers of Vitamin D3.
