Subsidiary15 Apr 2026, 04:51 pm
Retaggio to incorporate new Gems & Jewellery subsidiary, revises MD pay
AI Summary
Retaggio Industries Ltd's Board of Directors, at its meeting on April 15, 2026, approved the incorporation of a new subsidiary, "Lodha Heritage Private Limited," in the Gems & Jewellery industry. This strategic move aims to transition manufacturing and retail operations to the subsidiary, enabling a streamlined operational structure and enhanced focus on core business areas. Retaggio Industries will subscribe to 76% of the initial paid-up capital of ₹10,00,000 in cash, acquiring shares at face value. Additionally, the Board considered and approved a revision in the remuneration of Mr. Savinay Lodha, the Managing Director, subject to member approval, and also approved the draft postal ballot notice for this purpose.
Key Highlights
- Board approved incorporation of Lodha Heritage Private Limited subsidiary.
- New subsidiary will handle Gems & Jewellery manufacturing and retail operations.
- Retaggio to acquire 76% stake in the subsidiary for ₹7.6 lakhs cash.
- MD Savinay Lodha's remuneration revised, pending member approval.
- Draft postal ballot notice approved for MD's remuneration revision.