Mumbai, April 16 -- As part of this investment, the company has acquired 2,45,000 equity shares of GRCPL, each with a face value of Rs 10, amounting to a total consideration of Rs 2.45 crore.

The investment is the part of the company's strategic investment to strengthen its raw material supply chain of PET waste.

GRCPL being associate company of the company, the acquisition would fall within related party transaction and has been carried out in compliance with all applicable laws. Further, Gopal Agarwal (chief financial officer of the company) and Prashant Khandelwal (chief financial officer of a wholly owned subsidiary) are first directors of the entity.

There is no change in control with such investment as the company will continue t...