Investment13 Aug 2025, 12:45 pm
Carysil Ltd to Invest INR 8.49 Crore in Subsidiary Carysil Steel Ltd
AI Summary
Carysil Ltd announced that its Board of Directors approved an investment of INR 8.49 Crore in its subsidiary, Carysil Steel Ltd (CSL). The investment will be made by subscribing to the rights issue of CSL, amounting to 18,88,684 equity shares at an issue price of INR 245 per share. This decision aims to fund capital expenditure, meet working capital requirements, and strengthen CSL's financial position. CSL, a related party of Carysil Ltd, was incorporated in 2010 and is engaged in the manufacturing of Stainless Steel Kitchen Sinks. The transaction is at arm's length and is expected to be completed before September 30, 2025. Post-acquisition, Carysil Ltd's shareholding in CSL will remain the same at 84.99%.
Key Highlights
- Carysil Ltd to invest INR 8.49 Crore in Carysil Steel Ltd
- Investment through subscription of 18,88,684 equity shares at INR 245 per share
- Objective is to fund Capex, meet working capital requirements, and strengthen CSL's financial position
- CSL is a subsidiary of Carysil Ltd, incorporated in 2010, and manufactures Stainless Steel Kitchen Sinks
- Transaction is expected to be completed before September 30, 2025, and is at arm's length