Bheema Fine Chemicals Private Limited was incorporated on 22.07.2020, with its registered office at Unit No.1011A, Level 1, Sky One (Wing A), Prestige SkyTech, Financial District, Nanakramguda, Hyderabad – 500032, Telangana, India., as a wholly owned subsidiary of Bhagiradha Chemicals & Industries Limited (BCIL), a company listed on the Bombay Stock Exchange.

BCIL has participated in the Invest – Karnataka Conference held in Hubballi in February 2020 and exchanged an MOU in the presence of Honourable Chief Minister of Karnataka in connection with setting up the agrochemical unit in Kadechur Industrial Area. An application has been made to KUM for approval of the project and allotment of land which was approved by the government in its SLSWCC meeting held on March 24, 2020. On June 24, 2020, the Karnataka Industrial Areas Development Board (KIADB) has communicated approval for allotment of 33.90 acres of land in the name of BCIL and further confirmatory letter of allotment dated September 24, 2020 was issued.

In view of the corporate tax benefits made available to the newly incorporated companies, the Board of Directors of BCIL decided that the proposed plant in Kadechur would be set up in the name of its subsidiary company. Thus Bheema Fine Chemicals Private Limited was incorporated as a wholly owned subsidiary of BCIL to augment the production capacities of the parent company. On an application made to Karnataka Udyog Mitra, the approval of allotment of land has been transferred in the name of Bheema Fine Chemicals Private Limited comprising of contiguous plot nos 137 to 149 and 151 to 157 in a rectangular contour measuring 519.75 x 264.50 Meters in dimension. The possession certificate dated December 19, 2020 was issued and possession of the land was taken by Bheema fine Chemicals Private Limited.