Key Details of Subsidiary Incorporation
Subsidiary Information:
- Name: Arix Metals Trading FZCO (Free Zone Company)
- Incorporation Date: September 15, 2026
- Location: United Arab Emirates (UAE)
- Ownership: 100% wholly-owned subsidiary
- Paid-up Capital: AED 100,000 (United Arab Emirates Dirhams One Lakh)
- Business Activity: Metal Scrap Trading
- Current Turnover: Nil
Transaction Details:
- Consideration Type: Cash consideration
- Acquisition Cost: AED 100,000 (United Arab Emirates Dirhams One Lakh)
- Shareholding Acquired: 100% of shareholding
- Timeframe: Already incorporated (completed)
Regulatory and Compliance Aspects:
- Classification: Related party transaction (as wholly-owned subsidiary)
- Governmental/Regulatory Approvals: Not applicable
- Disclosure made under Regulation 30 read with Para A of Part A of Schedule III of SEBI Listing Regulations
Strategic Purpose:
- The incorporation will result in geographic market expansion in United Arab Emirates
- The subsidiary's business (metal scrap trading) represents expansion beyond the company's main line of business
Historical Context:
- The subsidiary was newly incorporated on September 15, 2026, therefore no historical financial data (turnover for last 3 years) is available
- This disclosure is in continuation of the company's earlier intimation dated August 14, 2026
Company Background Note:
Pursuant to a special resolution passed by members in the General Meeting held on June 24, 2026, the company name was changed from Jupiter Infomedia Limited to Arix Energix Limited with effect from July 17, 2026. The name change application is under process with BSE Limited.
Financial Impact
Initial investment of AED 100,000 for 100% ownership. No immediate turnover expected as the subsidiary is newly incorporated.