Acutaas Chemicals Limited has completed the acquisition of a 75 percent shareholding in South Korea-based Indichem Inc through its wholly owned subsidiary, Acutaas Advance Material Limited. The transaction results in Indichem Inc becoming a step-down subsidiary of Acutaas Chemicals, with the acquisition of the controlling stake now concluded.
Indichem Inc operates in the semiconductor chemicals industry and is engaged in the manufacture of speciality chemicals for the semiconductor sector, catering to South Korean and global markets. The acquisition is aligned with the growth strategy of Acutaas Advance Material Limited to expand into speciality chemicals for the semiconductor industry, complementing its existing product portfolio.
The acquisition was carried out in accordance with a Joint Venture Agreement executed on 27 June 2025 between Acutaas Advance Material Limited and J & Materials Co. Ltd for the acquisition of a controlling stake in Indichem Inc. The company received confirmation of the share acquisition on 11 February 2026.
Acutaas Advance Material Limited has acquired 300,000 shares of Indichem Inc, representing 75 percent of the company’s shareholding. The shares were acquired at a par value of KRW 500 per share, fully paid, along with a partly paid applicable share premium amount. The consideration was paid in cash through banking channels.
The company stated that the transaction does not fall within related party transactions. It further noted that requisite governmental and regulatory approvals in India and South Korea have been obtained under the applicable laws of both countries, and that the acquisition process has been completed.
Indichem Inc was incorporated in 2025 and is a newly incorporated company. Its audited annual financial statements are yet to be prepared. Construction and capital expenditure works for its manufacturing plant in South Korea are currently in progress and are slated to be commissioned by the end of the current calendar year.
Acutaas Chemicals Limited, formerly known as Ami Organics Limited, is an Indian chemical manufacturing company.
