DMR Engineering Limited submitted a revised regulatory filing to correct an inadvertent error in the paid-up capital details of its newly incorporated subsidiary. The company announced the incorporation of DMR Services Private Limited ("DMR Services") in Thimphu, Bhutan under the Corporate Regulatory Authority of Bhutan.
Subsidiary Details
- Name: DMR Services Private Limited
- Location: Thimphu, Bhutan
- Relationship: Subsidiary (70% ownership by DMR Engineering Limited)
- Business Activity: Engineering and technical consultancy services
- Incorporation Status: Recently incorporated, yet to commence business operations
Capital Structure of DMR Services
- Class of Shares: Equity
- Face Value: BTN 100 per share
- Authorized Capital: BTN 40,00,00,000 divided into 40,00,000 shares
- Paid-up Capital: BTN 2,50,00,000 divided into 2,50,000 shares
Investment Details
- Shares Acquired: 1,75,000 equity shares of BTN 100 each
- Percentage Holding: 70% shareholding
- Consideration Type: Cash
- Total Investment Amount: BTN 1,75,00,000
- Transaction Nature: Not a related party transaction
Business Rationale
The incorporation aims to expand DMR Engineering's business by providing engineering and technical consultancy services in Bhutan. The subsidiary's business is in line with the main line of business of DMR Engineering Limited.
Additional Information
- Promoters/promoter group/group companies of DMR Engineering have no interest in DMR Services
- No historical financial information available as the entity is newly incorporated
- The transaction was conducted at arm's length