Kasturi Metal to Incorporate Dubai Subsidiary

Kasturi Metal Composite Ltd announced that its Board of Directors has approved the incorporation of a majority-owned foreign subsidiary in Mainland Dubai, United Arab Emirates. The subsidiary, to be named "Durafloor MENA LLC", will be a Limited Liability Company with an authorized and paid-up share capital of AED 10,00,000. Kasturi Metal Composite will hold a 51% stake, subscribing to 51,000 shares at AED 10 each, for a total cost of AED 5,10,000 (approximately ₹1.32 crore). The subsidiary will focus on concrete flooring and polishing services for industrial and warehouse construction in the UAE and GCC countries. Incorporation is expected within 90 to 120 days.