Shares of Fineotex Chemical witnessed a sharp rally, climbing 8% during Friday's trading session. This surge came on the back of a major strategic announcement regarding a significant acquisition in the United States through its subsidiary. The move is seen as a pivotal step in the company's global expansion and its ambition to become a leader in high-performance, sustainable chemical solutions.
Strategic Acquisition of CrudeChem Technologies
According to a regulatory filing by the company, the acquisition target is the CrudeChem Technologies Group, a well-established specialty chemical manufacturer based in the US. CrudeChem is recognized for its advanced chemical fluid additives and a comprehensive portfolio of chemical solutions catering to the global oil and gas industry.
The filing highlighted that CrudeChem has over a decade of proven success, building strong customer trust and securing long-term partnerships with many of the world's largest energy producers and oilfield service companies.
A Defining Moment for Global Growth
Commenting on this strategic leap, Sanjay Tibrewala, Executive Director of Fineotex Chemical Ltd., stated that this acquisition marks a defining moment in the company's global growth journey. The clear objective is to build a $200 million oil field chemical business in the coming years.
"The US company’s outstanding technological capabilities, strong customer relationships, and commitment to sustainable performance perfectly complement our long-term vision," Tibrewala said. He added that Fineotex will hold a controlling stake initially and plans to gradually increase its investment and ownership in the future. "Together, we are creating a powerful global platform that will deliver world-class specialty solutions and set new standards of innovation and environmental responsibility in the oil and gas industry," he concluded.
Ashish Kacholia's Stake in Fineotex Chemical
As per the latest publicly available data from November 2025 on the Bombay Stock Exchange (BSE), veteran investor Ashish Kacholia holds a 2.62% stake in Fineotex Chemical. This translates to 3,00,05,680 shares.
Reports indicate that Kacholia, known for his stock-picking prowess, adopted a selective profit-booking approach in the September 2025 quarter after years of strong performance in some investments. He currently holds 48 publicly traded stocks with a total value exceeding ₹2,739 crore.
During the recent quarter, he marginally reduced his holdings in a few companies, including Fineotex Chemical, Dhabriya Polywood, Xpro India, and Brand Concepts. This is viewed as part of a broader strategy to realign his diversified portfolio, which spans manufacturing, infrastructure, and the specialty chemical sectors.
The market's positive reaction to Fineotex's US foray underscores investor confidence in the company's strategic direction and its potential to capture a larger share of the global specialty chemicals market.
