Summary of Key Information:
Reporting Period (Quarter/Year): Not Specified
Nature of Filing / Announcement: Outcome of Board Meeting - Capital Allocation to Subsidiaries
Audit Opinion:
Not Specified
Key Financial Highlights:
Standalone Results: Not Specified
Consolidated Results: Not Specified
Segment-wise Performance:
Not Specified
Corporate Actions:
The Board approved capital infusion in three wholly-owned African subsidiaries:
1. Manorama Africa Benin, Benin: Approved increase in share capital of up to ₹10,00,00,000 (Indian Rupees Ten Crore) in one or more tranches
- Entity incorporated October 15, 2024 with initial capital of CFA 20 Lakh
- Reported turnover of approximately ₹6.23 Crore during FY 2025-26
- Purpose: Working capital requirements and general corporate purposes
2. Manorama Savanna Togo Sarl, Togo: Approved increase in share capital of up to ₹10,00,00,000 (Indian Rupees Ten Crore) in one or more tranches
- Entity incorporated September 18, 2024 with initial capital of CFA 20 Lakh
- No significant turnover during FY 2025-26
- Purpose: Working capital requirements and general corporate purposes
3. Manorama Africa Savanna, Ivory Coast: Approved increase in share capital of up to ₹10,00,00,000 (Indian Rupees Ten Crore) in one or more tranches
- Entity incorporated October 10, 2024 with initial capital of CFA 20 Lakh
- No significant turnover during FY 2024-25 and FY 2025-26
- Purpose: Working capital requirements and general corporate purposes
All transactions will be executed through cash consideration (no share swaps) and are subject to applicable regulatory and statutory approvals in the respective jurisdictions.
Other Significant Information:
- Total capital infusion approval: ₹30 Crore across three subsidiaries
- Strategic objective: Strengthen international operations and market presence in Africa
- All subsidiaries operate in the Trading industry
- Implementation timeline: Phased deployment as per business requirements, preserving financial discipline