Crestchem Limited Schedules Board Meeting on May 7, 2026 to Discuss Subsidiary Formation

Crestchem Limited has announced a board meeting scheduled for Thursday, May 7, 2026, at 12:15 PM at its corporate office to discuss the formation of a subsidiary company and related strategic matters. The meeting agenda focuses primarily on the establishment of Oleo Biosciences Private Limited, a new subsidiary incorporated in Bangalore, Karnataka.

Subsidiary Formation Details

The board will formally discuss the formation of Oleo Biosciences Private Limited, which was initially considered during the board meeting held on March 31, 2026. The subsidiary has been established with specific strategic objectives for expanding the company's manufacturing capabilities in southern India.

Parameter: Details Subsidiary Name: Oleo Biosciences Private Limited Location: Bangalore, Karnataka Initial Capital: Rs.10,00,000/- Purpose: Pilot scale manufacturing and product development Target Market: Southern India customers

Investment and Shareholding Structure

Crestchem Limited has already made a significant investment in the subsidiary company. On April 22, 2026, the company subscribed to 75% of the authorized and paid-up share capital of Oleo Biosciences Private Limited.

Investment Details: Amount Crestchem's Shareholding: 75% Number of Shares: 75,000 equity shares Share Value: Rs.10/- each Total Investment: Rs.7,50,000/- Total Authorized Capital: Rs.10,00,000/-

Strategic Objectives and Current Status

The subsidiary is designed to establish a small pilot-scale manufacturing and product development facility that will enable the company to cater to and customize products for existing and potential customers in southern India. However, the project currently remains in the conceptual and preliminary stage.

The company has adopted a cautious approach toward implementation due to current market conditions. Citing the ongoing turbulent situation due to war scenarios, Crestchem has decided to carefully reconsider all pros and cons before proceeding. As of the announcement date, no purchase orders have been released for necessary machinery and equipment.

Management and Operational Structure

The board meeting will also address key management appointments and operational arrangements for the subsidiary. Mr. Dipak Narendraprasad Patel, Managing Director of Crestchem Limited, has been appointed as Director of Oleo Biosciences Private Limited to strategically oversee the company's affairs.

The operational and day-to-day management responsibilities will be handled by local onsite management personnel stationed in Bangalore. The meeting agenda includes authorization for Mr. Patel to sign all related documents and perform necessary acts for the subsidiary's business operations.

Infrastructure and Compliance Matters

Additional agenda items include taking note of the rental agreement executed to acquire a shed for installing the pilot plant, machinery, laboratory, and product development equipment. The board will also discuss investment matters under sections 179 and 186 of the Companies Act, 2013, ensuring compliance with prescribed limits and applicable provisions.

The subsidiary filed Form INC 20A for commencement of business on April 24, 2026, indicating progress toward operational readiness despite the cautious implementation approach.

Crestchem Limited has submitted mandatory regulatory disclosures to the Bombay Stock Exchange regarding promoter shareholdings as on March 31, 2026. The company filed these disclosures under Regulation 30(1), 30(2), and 31(4) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulation, 2011.

Promoter Shareholding Details

The disclosure reveals that the promoter group, led by Mr. Dipak Patel and persons acting in concert, holds a significant stake in the company. The total promoter shareholding stands at 9,01,049 shares, representing 30.03% of the company's total share capital as on March 31, 2026.

Shareholder Details: Holdings Total Shares Held: 9,01,049 Percentage of Total Capital: 30.03% Primary Promoter: Mr. Dipak Patel Disclosure Date: April 3, 2026

Individual Promoter Holdings

The disclosure provides a detailed breakdown of individual shareholdings within the promoter group:

Promoter Name: Shares Held Percentage Dipak Narendraprasad Patel: 8,86,443 29.55% Sonali N Patel: 14,600 0.48% Total: 9,01,049 30.03%

The filing indicates that Mr. Dipak Narendraprasad Patel holds the majority of the promoter stake with 8,86,443 shares (29.55%), while Sonali N Patel holds 14,600 shares (0.48%).

Regulatory Compliance

The company has fulfilled its regulatory obligations by submitting comprehensive disclosures under multiple SEBI regulations. The filings include:

Disclosure under Regulation 30(1) and 30(2) for substantial shareholding

Annual disclosure under Regulation 31(4) for the year ended March 31, 2026

Confirmation of no encumbrance of shares during the financial year

Company Information

Crestchem Limited is listed on the Bombay Stock Exchange with BSE code 526269. The company's corporate office is located in Ahmedabad, Gujarat. Nitin S. Shah serves as the Company Secretary and Compliance Officer, who signed the regulatory filings on April 3, 2026.

The disclosure confirms that the promoter group maintained their shareholding position without any encumbrance of shares during the financial year ended March 31, 2026, demonstrating stable promoter commitment to the company.

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