Sarda Energy to set up subsidiary in Dubai

Sarda Energy & Minerals Ltd. announced that its wholly-owned subsidiary, Sarda Metals & Alloys Ltd., has approved the incorporation of a new wholly-owned subsidiary in Dubai, UAE. This stepdown subsidiary will focus on the trading and distribution of the company's products in the Middle East region. The incorporation process is expected to take 4-6 months, with an initial investment of up to ₹3 crore in the form of equity capital, loan, or guarantee. The new entity aims to expand the company's business footprint and leverage global market opportunities.