Indag Rubber to Invest ₹2.30 Cr in Subsidiary for 51% Stake
Indag Rubber Limited's Board has approved a strategic investment of ₹2.30 Crores in its subsidiary, Millenium Manufacturing Systems Private Limited. This investment, to be completed by March 31, 2027, will be made through the acquisition and/or subscription of equity and/or preference shares, giving Indag Rubber 51% of the subsidiary's issued and paid-up share capital. The subsidiary operates in the green energy sector, manufacturing power conversion systems for battery energy storage and power electronics. This cash investment aims to support the subsidiary's business operations, growth plans, and funding requirements. The transaction is considered a related party transaction, conducted at arm's length.
Key Highlights
- Board approved ₹2.30 Cr strategic investment in subsidiary.
- Company will acquire 51% of Millenium Manufacturing Systems.
- Subsidiary focuses on green energy power conversion systems.
- Investment supports subsidiary's growth and funding needs.
- Transaction is a related party deal, at arm's length.
Price Impact
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