Expansion18 Apr 2026, 07:41 pm
Savera Industries to launch 'O2 Health Studio' fitness business
AI Summary
Savera Industries Ltd's Board approved its entry into the fitness studio business, which will operate under the brand name "O2 Health Studio". This expansion involves leasing property from related party M/s. Shyam Investments for an annual rent of ₹12 lakhs and existing equipment from related party M/s. Ruchi Agro Products Pvt Ltd for ₹1.80 lakhs. The property lease is for five years with a 5% annual rent increase and includes an interest-free security deposit of ₹6 lakhs. Commercial operations will commence upon obtaining required approvals. The company's promoters are partners in both related parties, but the transactions are stated to be at arm's length, aiming to improve turnover and profits.
Key Highlights
- Board approved Savera Industries' entry into the fitness studio business.
- New 'O2 Health Studio' brand will operate on leased property and equipment.
- Annual lease payments total ₹13.8 lakhs for property and existing equipment.
- Transactions with related parties, including promoters, are at arm's length.
- The expansion aims to enhance the company's turnover and profitability.
Price Impact
More from SAVERA