ALFA Filings
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Primo Chemicals Limited's board has approved the merger of its wholly-owned subsidiary, Flow Tech Chemicals Private Limited, into itself. No cash consideration or share issuance is involved.
Primo Chemicals acquired the remaining 51% stake in Flow Tech Chemicals Private Limited, making it a wholly owned subsidiary of the Company.
Primo Chemicals will invest ₹21 Crore for a 26% stake in TPCS Private Limited. This captive solar project expects annual cost savings of ₹24 Crore.
Primo Chemicals Limited provided an update regarding its 26% equity investment in an SPV, TPCS Private Limited, for a 50 MW Solar Power Plant. The SPV was incorporated in February 2026, and the company is currently finalizing the Power Purchase Agreement and Share Subscription Agreement to facilitate captive power procurement.
Primo Chemicals Limited has approved a ₹21 Crore investment for a 26% equity stake in TPCS Private Limited, a newly incorporated solar power SPV. The investment supports a 50 MW captive solar plant under an OPEX model, projected to save the company approximately ₹24 Crore annually in energy costs.
Primo Chemicals Limited is acquiring the remaining 51% stake in Flow Tech Chemicals Private Limited for cash consideration by March 2027. This transaction will consolidate its ownership in the target entity. Additionally, the company announced the appointment of two independent directors and the resignation of Mr. Munish Aggarwal as Senior VP (Operations).