Nature of Update
This is an intimation regarding the successful incorporation of a wholly owned subsidiary in the United States, as a follow-up to a proposal made on 5th October 2026.
Key Operational or Strategic Points
- Target Entity: The company has incorporated Gravita Recyclers USA Inc. as a Wholly Owned Subsidiary (WOS).
- Country of Incorporation: United States of America (USA).
- Industry: The subsidiary will engage in the Trading of scrap and scrap materials.
- Shareholding: The company holds a 100% shareholding in the subsidiary.
- Consideration & Funding: The acquisition was made through a Cash Consideration. The initial capital is USD 50,000.
- Date of Incorporation: The subsidiary was incorporated on 16th October 2026.
- Approval Date: The company received the approval on 26th October 2026.
- Related Party Transaction: As a wholly owned subsidiary, Gravita Recyclers USA Inc. is a related party of Gravita India Limited. The promoters/promoter group have no other interest in this transaction.
- Regulatory Approvals: No governmental or regulatory approvals were required for this incorporation.
- Financials: The subsidiary is newly incorporated and has not yet commenced business operations. Therefore, details on size, turnover, or history are not applicable.
- Timeline: The acquisition (incorporation) is already complete; no indicative time period for completion is applicable.
Material Financial Impact (if any)
The document does not disclose any specific financial impact on revenue, margins, cash flows, or capital structure. The initial investment is USD 50,000.