Borosil Scientific Invests INR 1168 Million in Subsidiary Goel Scientific
Filing Summary
Borosil Scientific Ltd has announced a further investment in its subsidiary, Goel Scientific Glass Works Limited, through a rights issue. The investment amounts to INR 1168 million, involving the acquisition of 11,681,557 equity shares at INR 10 each. This transaction increases Borosil Scientific’s shareholding in Goel to 99.37%. The funds will support Goel’s capital and operational expenses. Goel, a manufacturer of industrial glass process systems and laboratory glassware, reported a turnover of INR 4928 million for the financial year ending March 31, 2025. The transaction is classified as a related party transaction conducted at arm’s length.
Borosil Scientific Ltd has made a further investment in its subsidiary, Goel Scientific Glass Works Limited, through a rights issue. The investment is conducted under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transaction involves the acquisition of additional equity shares in Goel, enhancing Borosil Scientific’s stake in the subsidiary.
The financial terms of the transaction include an investment of INR 1168 million. This amount corresponds to the acquisition of 11,681,557 equity shares, each valued at INR 10. The transaction is executed as a cash transaction. Post-investment, Borosil Scientific’s shareholding in Goel will increase to 99.37%, reinforcing its control over the subsidiary.
Goel Scientific Glass Works Limited is engaged in the manufacturing of industrial glass process systems and laboratory glassware. The investment aims to support Goel in meeting its capital expenses, operational expenses, and other general corporate purposes. The company operates in various regions, including India, Europe, North America, the Middle East, South-East Asia, and East Asia.
Goel reported a turnover of INR 4928 million for the financial year ending March 31, 2025. In the previous financial years, Goel’s turnover was INR 4415 million for 2023-24 and INR 6129 million for 2022-23. The transaction is classified as a related party transaction, conducted at arm’s length, with Borosil Scientific holding a significant interest in Goel.
The investment does not require any governmental or regulatory approvals, and there is no indicative time period for the completion of the acquisition. The transaction is executed in compliance with the SEBI Master Circular dated November 11, 2024.
Borosil Scientific Ltd is a company focused on providing scientific and industrial glassware solutions. The company prioritizes strategic investments to enhance its operational capabilities and expand its market presence. Through such investments, Borosil Scientific aims to strengthen its position in the scientific glassware industry.