Divgi Torqtransfer Systems Limited has informed the Exchange about Acquisition of "To be incorporated company"

Divgi TorqTransfer Systems Limited's Board of Directors has approved the incorporation of a wholly-owned subsidiary in the United States of America. The new Foreign WOS will be 100% owned by the company and will operate in the automotive industry, focusing on advance business development, sales, marketing, promotion, and distribution activities. The company plans to invest up to Rs 3.00 crores in one or more tranches to fund the subsidiary's setup, initial operations, procurement, and other costs. This investment will strengthen the WOS's long-term capital base and support working capital requirements. The incorporation will be subject to applicable provisions under FEMA, RBI regulations, and necessary approvals from US authorities.