Kay Power Incorporates Kay Pulp Paper Subsidiary

Parent Company: Kay Power and Paper Limited (CIN: 121099 MH1991 PLC061709)
New Subsidiary: Kay Pulp and Paper Mills Private Limited (100% wholly owned)
Regulatory Authority: BSE Limited (Department of Corporate Services)

The primary object for incorporating the subsidiary is to carry on the business of:

Manufacture, production, processing, conversion, purchase, sale, import, export, distribution, wholesale, retail, marketing, trading, and stocking of all kinds of paper, paper boards, pulp, waste paper, recycled paper, kraft paper, tissue paper, corrugated paper, specialty paper, packaging paper, stationery products, and packaging materials.
Dealing in all raw materials, chemicals, additives, consumables, machinery, plant, equipment, spare parts, and accessories used in or required for the manufacture, conversion, processing, finishing, packaging, and trading of paper, paper boards, pulp, and allied products.

Related Party Transaction: The subsidiary is a related party of the Company. The transaction is stated to be at "arm's length."
Government/Regulatory Approvals: Not Applicable.
Percentage of Shareholding/Control Acquired: 100% of the paid-up share capital. Entire beneficial holding rests with Kay Power and Paper Limited.
Nature of Consideration: Cash contribution to share capital at face value.
Turnover History: The subsidiary is newly incorporated; it has nil turnover and is yet to commence business operations.
Industry Classification: Manufacturing of Paper and Paper Packaging Products.

The disclosure does not quantify the financial impact on the parent company's financials beyond the initial capital contribution of ₹1,00,000.
The subsidiary's operations are aligned with the main line of business of the listed entity.
No indicative time period for completion of the acquisition is provided, as it is not applicable for an incorporation.