Key Decisions Approved

1. Investment in Rhythms Industries Private Limited

The Board approved two forms of investment in Rhythms Industries Private Limited:

Rights Issue Subscription:

  • The Company will subscribe to its entitlement of 1,11,290 equity shares in Rhythms Industries' Rights Issue
  • Issue price: ₹15 per equity share (face value: ₹10 per share)
  • Aggregate consideration for entitlement: ₹16,69,350
  • Authorization to subscribe to additional 5,68,843 equity shares if validly renounced by other shareholders
  • Maximum additional consideration: ₹85,32,645

Additional Investment Authorization:

  • Approved investment up to ₹10.00 crore in Rhythms Industries Private Limited and/or its subsidiary Rain Link Agro Foods Private Limited
  • Investment may be through equity, debt, or other permissible securities
  • May be executed in one or more tranches
  • Combination of equity and debt as determined by the Company

Target Company Details (Rhythms Industries Private Limited):

  • Paid-up Capital: ₹91.67 lakhs
  • Industry: FMCG/Food Products Manufacturing & Distribution
  • Business: FMCG distribution, manufacturing under "365 Days" brand
  • Distribution network: 3,000+ outlets
  • Date of Incorporation: May 31, 2017
  • Turnover History:
  • FY 2025-26: ₹10,368.05 lakhs
  • FY 2024-25: ₹7,209.52 lakhs
  • FY 2023-24: ₹5,017.74 lakhs
  • Country of Presence: India

Transaction Details:

  • Not a related party transaction
  • Promoter/promoter group has no interest in Rhythms Industries
  • Cash consideration only
  • No governmental or regulatory approvals required
  • Completion timeframe: Upon allotment and completion of Rights Issue process
  • Potential outcome: May result in acquisition of control depending on final subscription level
2. Incorporation of Wholly Owned Subsidiary

The Board approved incorporation of:

  • Name: Rentworks Services India Private Limited
  • Status: Wholly Owned Subsidiary
  • Business: Renting and leasing of furniture, appliances, and other tangible assets
  • Incorporation under Companies Act, 2013
  • Name approved by Central Registration Centre, Ministry of Corporate Affairs
  • Country of Incorporation: India
  • Shareholding: 100% by Capital Trade Links Limited
  • Subscription at face value of ₹10 per equity share
  • No governmental or regulatory approvals required
  • Cash consideration only

Strategic Rationale

  • Rhythms investment: Strategic investment to explore business and growth opportunities
  • Subsidiary formation: Part of long-term strategic vision to diversify business operations and establish sustainable presence in equipment rental and leasing sector

Meeting Details

  • Date: Wednesday, September 23, 2026
  • Timing: 04:00 PM to 04:30 PM (IST)