Subsidiary24 Sept 2026, 09:56 pm
Amir Chand Jagdish Kumar Invests SAR 1 Lakh in Saudi Subsidiary
AI Summary
Amir Chand Jagdish Kumar (Exports) Ltd has remitted USD 26,630 (approx. ₹25.54 Lakhs) towards initial subscription to the share capital of its wholly owned subsidiary, Amir Chand Trading Company, in Saudi Arabia. This investment aims to enable the subsidiary to commence business operations in the Rice and FMCG sectors. The subsidiary has been incorporated in Saudi Arabia and has nil turnover as it has not yet begun operations. This move establishes the company's direct presence in the Saudi market.
Key Highlights
- Invested SAR 1,00,000 (approx. ₹25.54 Lakhs) in a new Saudi subsidiary.
- Subsidiary, Amir Chand Trading Company, will operate in Rice and FMCG.
- Investment aims to establish direct presence and commence business in Saudi Arabia.
- Subsidiary is a newly formed entity with nil turnover.
- Acquisition represents 100% shareholding in the subsidiary.
Price Impact
More from AEROPLANE