Acutaas Chemicals Subsidiary Enters Joint Venture for Semiconductor Materials; Stock Up 3.2%

Acutaas Chemicals Limited [NSE: ACUTAAS] announced that its wholly-owned subsidiary, Baba Advance Materials Limited (“BAML”), has entered into a joint venture agreement with J & Materials Co. Ltd., a South Korean company. The stock closed up 3.2% at ₹1141 today.

The joint venture, named Indichem Inc., will be based in South Korea and will focus on the production, sale, and distribution of advanced semiconductor chemicals. BAML will hold 75% of the share capital, while J & Materials will hold the remaining 25%.

BAML’s total investment in the joint venture is KRW 30 billion (approximately ₹187 crore), payable in tranches upon fulfilling certain conditions and obtaining necessary regulatory approvals. The investment is expected to be completed within twelve months. The JV partners will apply for necessary governmental and regulatory approvals in both India and South Korea.

The joint venture aims to leverage the technical expertise and resources of both companies to expand into the specialty chemicals market for the semiconductor industry. This move aligns with BAML’s growth strategy and is expected to complement Acutaas Chemicals’ existing product portfolio.

source: Corporate Announcement

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