Subsidiary9 Jul 2026, 10:20 pm
Manorama Industries to incorporate wholly owned subsidiary in Chad
AI Summary
Manorama Industries Ltd announced that its Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in Chad. The decision was made during a board meeting held on July 9, 2026. The proposed subsidiary, tentatively named Manorama Savannah Agro Chad, will have an authorized and paid-up capital of CFA 1,00,00,000 (approximately ₹1.4 Crore). The company stated that the WOS will be a related party post-incorporation, but transactions will be on an arm's length basis. The nature of the business for the subsidiary is indicated as 'Trading'.
Key Highlights
- Board approved incorporation of a WOS in Chad.
- Proposed subsidiary named Manorama Savannah Agro Chad.
- Authorized and paid-up capital set at CFA 1,00,00,000.
- Subsidiary's business activity will be Trading.
- Transactions with WOS to be on arm's length basis.
Price Impact
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