Fractal Industries Limited's Board of Directors held a meeting on November 6, 2026, which commenced at 3:00 PM and concluded at 4:05 PM. The board considered and approved three key items:
1. Financial Results Approval
2. Subsidiary Loan Approval
3. Dubai Subsidiary Incorporation
Details of the Dubai Subsidiary (4P Global):
- Share Capital: 100,000 AED
- Industry: Import/Export and Local Trading of Scrap/Metal and distribution worldwide including India
- Business Objects: Import/Export of Scrap & Metal Waste, Plastic Material & Textile Trading and distribution worldwide including India
- Acquisition Type: Related Party Transaction (relative of Promoter of the company is Director in the proposed company)
- Ownership: 98% wholly owned subsidiary
- Consideration: Cash consideration through subscription of shares at 10 AED per share
- Government Approvals: Approval required from Meydan Free Zone (Dubai)
- Timeline: Indicative completion time of 60 days
- Turnover History: Not applicable (newly proposed company)