Incorporation of wholly owned subsidiary company in England
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Axis Solutions Ltd (formerly Asya Infosoft Limited) has incorporated a wholly owned subsidiary named Brix Engineering Limited in England. The new entity has a share capital of 500 GBP (500 equity shares of 1 GBP each) and is fully owned by the parent company. Brix Engineering Limited will be engaged in manufacturing of engineering goods and related research and development activities. The subsidiary is newly incorporated with nil turnover and no operating history. The investment has been funded through cash/remittance and complies with FEMA and other regulatory guidelines. This marks the company's first international subsidiary and an entry into the engineering goods manufacturing space.
This is a small greenfield expansion (500 GBP capital outlay) into a new business vertical — engineering goods and R&D — via a UK-based wholly owned subsidiary. While the financial impact is minimal at this stage, it signals the company's intent to diversify beyond its current IT services business (formerly Asya Infosoft) and establish an international footprint.