Autofurnish Limited has executed a Memorandum of Understanding (MoU) with 3003BC Lifestyle Private Limited on November 12, 2026 for establishing Wagenlov Private Limited. The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Part A of Schedule III and applicable SEBI circulars.

Nature of the Event

Execution of Memorandum of Understanding to establish a new subsidiary company for automotive fragrance and car-care products business.

Key Details of the Subsidiary

  • Name: Wagenlov Private Limited (proposed name, yet to be incorporated)
  • Business: Development, marketing, sale, and eventual manufacturing of Wagenlov-branded automotive fragrance and car-care products in India
  • Ownership Structure: 50.5% by Autofurnish Limited and 49.5% by 3003BC Lifestyle Private Limited
  • Status: Expected to become a subsidiary of Autofurnish Limited upon incorporation
  • Industry: Automotive fragrance and car-care products

Transaction Details

  • Consideration: Cash/subscription to equity shares
  • Acquisition Price: Subscription at face value for 50.5% of the initial equity capital at mutually agreed price
  • Percentage of Shareholding: 50.5%
  • Related Party Status: None of the promoters or members of the promoter group of the target company are related to, affiliated with, or otherwise connected to Autofurnish Limited

Objectives and Effects

The establishment aims to create a dedicated company for the Wagenlov brand and business, expanding Autofurnish Limited's presence in automotive fragrance and car-care products. The plan includes phased manufacturing and supply by 3003BC and, in due course, the Company's own facility.

Regulatory Approvals Required

  • Incorporation formalities under the Companies Act, 2013
  • Other applicable approvals, if any

Timeline

Incorporation is targeted "as soon as practicable" with further definitive agreements to follow.

Next Steps

The MoU is subject to the execution of definitive agreements, including:

  • Shareholders' agreement and articles of association
  • Supply agreement
  • IP assignment documents
  • Sales/distribution arrangements

The Company will make further disclosures as required under the SEBI Listing Regulations upon incorporation of Wagenlov and execution of the definitive agreements.

Financial Impact

Financial impact not quantified in the disclosure. The target entity has no turnover as it is yet to be incorporated.