Business Update5 May 2024, 05:04 pm
Concord Control Systems Ltd Approves Rs. 5.50 Crores Investment in Subsidiary Advanced Rail
AI Summary
Concord Control Systems Ltd announced today that its Board of Directors approved an investment of up to Rs. 5.50 crores in its subsidiary company, Advanced Rail Controls Private Limited. This investment is set to be made through subscribing to the company's Right Issue. The subsidiary, a vibrant entity in the manufacturing sector with a turnover of 1424.66 lakhs in FY 2023, specializes in manufacturing and supplying rail domain solutions for Indian Railways and other railway contractors. The Board meeting was held on May 05, 2024.
Key Highlights
- Concord Control Systems Ltd approved an investment of up to Rs. 5.50 crores in its subsidiary, Advanced Rail Controls Private Limited.
- The investment will be made through subscribing to the subsidiary's Right Issue.
- Advanced Rail Controls Private Limited is a leading manufacturing entity in the rail domain sector with a turnover of 1424.66 lakhs in FY 2023.
- The subsidiary focuses on manufacturing and supplying rail domain solutions for Indian Railways and other railway contractors.