Date: June 01, 2026

Strategic Action: Proposed Incorporation of European Subsidiary

Mangalam Worldwide Limited is planning to establish/incorporate a Wholly Owned Subsidiary (WOS) or subsidiary in Belgium, Netherlands, or another country in Europe. This action is being undertaken pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

The proposed incorporation is part of the company's strategic growth initiatives aimed at:

  • Expanding its international presence
  • Strengthening customer outreach
  • Enhancing operational efficiencies
  • Exploring business opportunities in the European market

The subsidiary will undertake activities aligned with the company's existing business operations in the steel industry and will facilitate the company's long-term growth and expansion strategy in overseas markets.

Transaction Details

  • Related Party Status: The transaction would not fall within related party transactions
  • Promoter Interest: Promoters/promoter group have no interest in the entity being acquired
  • Future Relationship: Upon allotment of shares, the new wholly owned subsidiary would become a Related Party to the Company
  • Industry: Steel Industry
  • Country of Incorporation: Belgium, Netherlands, or another European country

Approval and Completion Timeline

The incorporation is subject to receipt of necessary regulatory approvals and completion of applicable statutory and regulatory formalities. The company has indicated that indicative time period for completion is "Not applicable" at this stage, suggesting the timeline remains undefined.

Financial Considerations

The company plans 100% subscription to the share capital in the proposed wholly owned subsidiary. The exact cost of acquisition and price at which shares are acquired will be intimated later when the subsidiary is incorporated. The company will maintain 100% of the shareholding/control or any other proportion as may be decided by management.

Entity Background

The entity is proposed to be incorporated and therefore has no operational history, last 3 years turnover, or significant information available as on date.