Ahmedabad: Indian Extractions Limited (BSE: 524614 – IEL), a prominent player in the wholesale and retail trading of chemicals, dyes, pigments, intermediates, and commodities, has announced a series of strategic initiatives aimed at enhancing its business portfolio and creating value for its shareholders. Known for its manufacturing and export of solvent extraction and edible groundnut oil, IEL is now set to broaden its footprint in export trading and chemical indenting, particularly targeting markets in the U.S. and Europe.
Reclassification of Authorized Share Capital
The Board of Directors of IEL has approved a reclassification of the company’s existing Authorized Share Capital, subject to approval from shareholders. The reclassification involves canceling unissued shares of one class and reallocating them to another class. As a result, the authorized share capital will increase from Rs. 9,00,00,000 (Rupees Nine Crores) divided into 8,10,00,000 equity shares of Re. 1 each and 90,000 zero-coupon redeemable preference shares of Rs. 100 each, to Rs. 20,90,00,000 (Rupees Twenty Crores and Ninety Lakh). The revised capital structure will consist of 20,00,00,000 equity shares of Re. 1 each and 90,000 zero-coupon redeemable preference shares of Rs. 100 each.
Diversification into Warehousing and Storage
In line with its growth strategy, IEL has amended the Main Object Clause of its Memorandum of Association to expand into the warehousing and storage business. This move will see the company venture into building, managing, and operating warehouses, godowns, cold storage facilities, and other storage-related services. The company will also offer logistics, transportation, and distribution services for stored goods, further positioning IEL as a significant player in India’s fast-growing warehousing sector.
Strategic Growth Focus
“Our decision to diversify into warehousing and storage, along with our continued focus on high-demand industries such as chemicals and commodities, positions IEL for robust market growth. We are committed to operational excellence, embracing technology-driven solutions, and ensuring sustainability, all with the goal of delivering maximum value to our stakeholders,” said a spokesperson for Indian Extractions Limited.
This diversification is expected to enable IEL to capture a substantial market share in India’s booming warehousing and logistics sector while supporting its long-term growth goals.