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Acutaas Advance Material Ltd has acquired a 75% controlling stake in Indichem Inc, making it a step-down subsidiary. The acquisition aligns with Acutaas's entry into the semiconductor chemicals sector in South Korea.

The transaction involved a cash purchase of 300,000 shares. Indichem's manufacturing plant is under construction and expected to be operational by the end of the year, with a total investment of ₹200 crore planned for the joint venture.