Board approves UK subsidiary Clio Quantinfra Limited
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Clio Infotech board approved investment of about 1,000 GBP to subscribe 100% shares in Clio Quantinfra Limited, a UK-based IT services firm currently being incorporated. The new entity will become a wholly-owned subsidiary focused on software design, development and corporate IT services. Investment is at arm's length, no promoter interest, cash deal, expected completion within 12 months.
Minor investment of about 1,000 GBP to set up a UK IT subsidiary; negligible financial impact but signals overseas expansion plans.