Camlin Fine Science Limited (CFSL) has received all necessary Indian regulatory approvals for the issuance of new ordinary shares as consideration for acquiring a majority stake in Vinpai, a company specializing in algae- and plant-based functional ingredients for the food and cosmetics industries. On November 24, 2025, CFSL's board approved the allotment of these shares to the selling shareholders. The completion of this share allotment marks a significant step toward finalizing the acquisition, which is expected by the end of the month. Following the completion, CFSL will convert previously issued convertible bonds into ordinary shares of Vinpai and intends to launch a tender offer for the remaining shares at the same price paid in the initial acquisition.