Ami Organics Limited announced that at its board meeting held on August 4, 2023, the Board approved the incorporation of the Wholly Owned Subsidiary Company with the proposed name M/s. Baba Semiconductor Materials Limited or any other name as may be available and approved by the Central Registration Centre, Ministry of Corporate Affairs. Board also approved to subscribe to the equity shares of face value of INR 10 each amounting to INR 1,000 each amounting to INR 50,000 only, in the proposed wholly owned subsidiary Company. Other relevant disclosure in respect of the wholly owned subsidiary Company shall be provided upon incorporation of the wholly owned subsidiary company.