Fine Organic completes acquisition of 80% stake in Oleofine Organics SDN. BHD.
Fine Organic Industries Limited has acquired an 80% stake in Oleofine Organics SDN. BHD. (OFM) for RM 34,208,000 (₹80.17 crore), making OFM its subsidiary. This also leads to Fine Organic Industries (Thailand) Co., Ltd. (FOIT) becoming a subsidiary. The acquisition is part of the company's growth strategy.
The acquisition of subsidiaries in the specialty chemicals sector is expected to contribute to the company's growth strategy, potentially impacting future revenues and market presence.
The acquisition of a significant stake in Oleofine Organics SDN. BHD. and the subsequent control over Fine Organic Industries (Thailand) Co., Ltd. indicate strategic growth and expansion for Fine Organic Industries Limited.
Fine Organic Industries Limited announced the successful completion of its acquisition of an 80% equity stake in Oleofine Organics SDN. BHD. (OFM), a Malaysian company engaged in the specialty chemicals business. This acquisition, effective September 9, 2026, makes OFM a subsidiary of Fine Organic Industries Limited.
As a consequence of this acquisition and in accordance with the Companies Act, 2013, Fine Organic Industries Limited, along with its new subsidiary OFM, now controls more than half of the total voting power in Fine Organic Industries (Thailand) Co., Ltd. (FOIT). Consequently, FOIT also became a subsidiary of Fine Organic Industries Limited from September 9, 2026.
OFM's paid-up share capital is 1,000,000 Malaysian Ringgit (RM), and its turnover for the financial year ended January 31, 2026, was RM 23,287,742 (equivalent to ₹54.17 crore). The cost of acquisition for the 80% stake in OFM was RM 34,208,000 (equivalent to ₹80.17 crore). This acquisition is considered a related party transaction to the extent of shares acquired from Smoothex Chemicals Private Limited, a promoter group entity, but has been conducted on an arm's length basis. OFM's business is within the main business line of Fine Organic Industries Limited.
FOIT, incorporated in Thailand, is also engaged in the specialty chemicals business. Its turnover for the financial year ended December 31, 2025, was THB 101,172,263 (equivalent to ₹28.87 crore). The acquisition of OFM results in Fine Organic Industries Limited, together with OFM, having an aggregate direct and indirect control of approximately 53% in FOIT, making it a subsidiary.
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Fine Organic Industries Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Fine Organic Industries Limited. Read the original for the full detail.