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Navin Fluorine International to invest additional 250 crore in arm NFASL [Video]

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Small Business Funding

Flurochemicals maker Navin Fluorine International Ltd on Thursday (March 14) said its board of directors has approved an additional investment of approximately ₹250 crore in Navin Fluorine Advanced Sciences Ltd (NFASL), its wholly-owned subsidiary.

This investment, based on the recommendation of the Audit Committee, will take the form of subscribing to non-cumulative, non-convertible, non-participating, redeemable preference shares.

A significant portion of the investment will be allocated towards the repayment of existing inter-corporate deposits and further business funding requirements of NFASL.

“…this is to inform you that the Board of Directors of the Company at its Meeting held on today, has based on the recommendation of the Audit Committee, approved additional investment of ₹250 crore in Navin Fluorine Advanced Sciences Ltd (NFASL), wholly owned subsidiary, by subscribing to non-cumulative, non-convertible, non-participating, redeemable preference shares for repayment of the existing Inter Corporate Deposits and further business funding requirements of NFASL,” the company said.

NFASL …

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