Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Outcome of Board Meeting - Acquisition of Additional Stake in Subsidiary Company
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Corporate Actions:
The Board of Directors approved the acquisition of an additional 14.5% equity stake in Le Merite Tactical & Defence Solutions Private Limited (LMTDSPL), a subsidiary of the company.
Acquisition Details:
- Seller: Mr. Nand Nandan Sureka (Promoter of LMTDSPL)
- Number of shares: 14,500 equity shares
- Price per share: ₹10
- Total consideration: ₹1,45,000 (not exceeding this amount)
- Current holding: 51% equity stake
- Post-acquisition holding: 65.5% equity stake
Target Company Details (LMTDSPL):
- Industry: Technical Textile
- Date of Incorporation: June 5, 2025
- Authorized Share Capital: ₹1,00,00,000 divided into 10,00,000 equity shares of ₹10 each
- Paid-up Share Capital: ₹10,00,000 divided into 1,00,000 equity shares of ₹10 each
- Business: Engaged in technical and defence textiles
- Financials: No audited financial statements available as the company was incorporated in the previous financial year
Other Significant Information:
- The acquisition involves purchase of additional equity stake in an existing subsidiary
- LMTDSPL has no turnover history as it was incorporated in June 2025
- First financial statements of LMTDSPL are yet to be finalized and adopted