Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, and read with schedule III of aforesaid regulations dated 30 January ....
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Earkart Ltd's board has approved the incorporation of two wholly-owned subsidiaries (WOS) — Earkart Pharmaceuticals Private Limited and Earkart Healthcare Services Private Limited. Both entities are yet to be incorporated, with an initial authorised and paid-up share capital of Rs. 1 lakh each. The company will subscribe to 100% of the share capital at face value of Rs. 10 per share, funded entirely in cash. The pharmaceuticals subsidiary will manufacture, promote, sell, and distribute pharmaceutical products, while the healthcare services subsidiary will provide services in the healthcare sector. Once incorporated, both WOS will be classified as related parties of Earkart Ltd.
The incorporation of these subsidiaries marks Earkart's strategic expansion into pharmaceuticals and healthcare services, diversifying beyond its current business lines. While the capital outlay is minimal (Rs. 2 lakh combined), it signals intent to build new revenue streams, which could be positive for long-term growth prospects.