Privi Speciality Chemicals (BOM:530717) said the Government of Maharashtra, India, has provisionally sanctioned the Industrial Promotion Subsidy for the financial year 2023-24 under the State Incentive Scheme, according to an Indian bourse filing on Tuesday.
The company is eligible for a subsidy of 26.3 million Indian rupees, with 23.7 million rupees to be disbursed immediately upon submission of required documents, the filing said. The remaining 10%, or 2.6 million, will be released after the completion of the GST audit for the financial year 2023-24, it added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.