HFCL Incorporates Wholly-Owned Subsidiary HFCL Connectivity Systems

Key Quantitative Figures

• Authorized Share Capital of HFCL Connectivity Systems Limited: ₹1 Lakh
• Initial subscription: 100,000 equity shares of Re. 1 each
• Total investment: ₹1 Lakh (at par value)
• Ownership percentage: 100% of share capital

Entities Involved

• HFCL Limited (Parent company)
• HFCL Connectivity Systems Limited (CIN: U42202HR2026PLC152025) (New subsidiary)
• BSE Limited
• National Stock Exchange of India Limited

Business Objectives of Subsidiary

HCSL has been incorporated to carry on business to establish, construct, erect, install, commission, operate, maintain, modernize, upgrade and manage:

• Telecommunication networks including voice, video and data communication
• Optical fiber cable networks
• Communication systems and broadband networks
• Wireless networks including 4G, 5G, 6G and future generation communication networks
• Telecom towers, data centres, and network operation centres
• Satellite communication systems
• Wireless communication infrastructure and transmission lines
• Dark fibre networks and intelligent network systems
• All related civil, electrical, electronic and mechanical infrastructure

Transaction Details

• Nature of consideration: Cash
• Transaction type: Not a related party transaction (promoter/promoter group/group companies have no interest)
• Post-incorporation status: HCSL becomes a related party of HFCL Limited
• Industry classification: Technology and Infrastructure Services
• Current status: Yet to commence business operations (nil turnover)
• Government approvals: Not applicable

Capital Structure Impact

• HFCL Limited now holds 100% of the subsidiary's share capital comprising 100,000 equity shares
• No dilution or change in HFCL Limited's capital structure