Investment27 Oct 2026, 06:50 pm
Maharaja & Speedex Invests ₹6.47 Cr in Subsidiary
AI Summary
Maharaja & Speedex India Ltd has invested ₹646.80 Lakhs (₹6.47 Crore) in its wholly owned subsidiary, Dewdrop Bottles Private Limited, by subscribing to 1,47,000 equity shares through a rights issue. This investment aligns with the company's IPO objectives and will be used by the subsidiary for capital expenditure, including plant and machinery, and for repaying an existing loan from ICICI Bank. The infusion aims to expand manufacturing capabilities and reduce the subsidiary's debt. Dewdrop Bottles Private Limited reported a turnover of ₹8,897.82 Lakhs for the financial year ended March 31, 2026, and is engaged in manufacturing household and kitchen products.
Key Highlights
- Company invested ₹6.47 Cr in wholly owned subsidiary Dewdrop Bottles.
- Investment made via rights issue subscription for subsidiary's expansion.
- Funds to be used for capital expenditure and loan repayment.
- Investment aligns with company's IPO objectives.
- Subsidiary's FY26 turnover was ₹8,897.82 Lakhs.
Price Impact
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