Sandur Manganese to form two Wholly Owned Subsidiaries

Sandur Manganese & Iron Ores Ltd announced today that its Board of Directors has approved the incorporation of two wholly-owned subsidiaries: 'Royal Sandur Hospitality Private Limited' and 'Royal Sandur Academy Private Limited'. These subsidiaries will venture into new business lines, with the hospitality arm focusing on hotels and resorts, and the academy focusing on education, sports, and training. Each subsidiary will be capitalized with ₹1,00,00,000 through the subscription of 10,00,000 equity shares of ₹10 each in cash, representing 100% shareholding by the parent company. The incorporation is subject to necessary regulatory approvals.