enclosed
Awaiting price reaction for this filing.
Valecha Engineering's board, meeting on 13 January 2026, approved setting up a new subsidiary company in partnership with Univastu India Limited (another listed entity). Valecha will hold a 51% stake while Univastu will hold the remaining 49%, with common directors on the new entity's board. The name and other specifics of the new subsidiary will be shared with the exchanges once it is formally incorporated. This is a greenfield incorporation rather than an acquisition of an existing business.
Shareholders should note this as a new joint venture-style initiative that ties Valecha's capital and operations to Univastu India; near-term stock impact is likely limited since the subsidiary is still to be incorporated and its business purpose is not yet disclosed.