Date: July 17, 2026
Board Meeting Outcomes
MITCON Consultancy & Engineering Services Limited (Ultimate Holding Company) has incorporated a step-down subsidiary through its wholly-owned subsidiary MITCON Sun Power Limited. The new entity, MITCON Power Trading Limited, was incorporated for business expansion in power trading.
Disinvestment / Strategic Actions
Subsidiary Incorporation Details:
- Name: MITCON Power Trading Limited
- Incorporation Date: June 19, 2026
- Country of Incorporation: India
- Authorized Share Capital: ₹2,00,00,000
- Paid-up Share Capital: ₹1,00,000
- Business Activity: Power Trading
- Ownership Structure: 100% owned by MITCON Sun Power Limited (wholly-owned subsidiary of MITCON Consultancy & Engineering Services Limited)
Transaction Details:
- Nature of Transaction: Related Party Transaction
- Consideration Type: Cash
- Subscription Details: 10,000 equity shares at par value of ₹10 each, aggregating to ₹1,00,000
- Subscription by: MITCON Sun Power Limited along with its Nominees
- Arm's Length: The transaction is conducted at arm's length
- Government Approvals: None required
Strategic Rationale:
The incorporation is intended to expand business in the field of power trading and will result in growth of the Ultimate Holding Company (MITCON Consultancy & Engineering Services Limited).
Additional Information:
- The Ultimate Holding Company does not have promoter or promoter group/promoter group companies
- Turnover and historical financials are not applicable as the entity was newly incorporated on June 19, 2026
- The company confirms this is a compliance disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Para A of Schedule III