Investment Details
Total Planned Investment: Not exceeding ₹15,00,00,000 (Rupees Fifteen Crores) in one or more tranches
Investment Purpose: Business expansion in Saudi Arabia and other Middle East countries
Current Investment Status
Subsidiary Name: Tinna Rubber Arabia Ltd, Saudi Arabia
Registration Status: All requisite registrations completed
First Tranche Investment: Saudi Riyal (SAR) 340,000
Share Subscription: 50 shares at SAR 6,800 per share
Indian Rupee Equivalent: Approximately ₹87,31,164
Subsidiary Details
Share Capital: 1000 shares of SAR 6,800 each (Total SAR 6,800,000)
Industry: Collection and shredding of waste tyres and material recovery
Business Activities: Processing/recycling of old used tyre scrap to make crumb rubber, steel scrap and other value-added products
Date of Incorporation: June 24, 2024
Country of Incorporation: Saudi Arabia
Turnover History: Not applicable (newly incorporated entity)
Strategic Objectives
- Proposed CAPEX of approximately ₹15 Crores
- Increase source of raw material at economical price
- Expand manufacturing base in the Middle East region
Transaction Details
Consideration Type: Cash and kind (capitalization of exports or payments due)
Acquisition Type: Subscription to share capital
Shareholding Percentage: 100% of share capital held by Tinna Rubber and Infrastructure Limited
Related Party Status: The incorporated entity being a wholly-owned subsidiary is a related party of the Company
Promoter Interest: The Promoter/Promoter group does not have any interest other than as mentioned
Financial Impact
The investment represents a capital outflow of up to ₹15 crore for international expansion, with initial investment of approximately ₹87.31 lakh already made.