Board approves subsidiary investments and higher borrowing limit
FABTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Fabtech Technologies board approved additional overseas investment of up to Rs. 24 crore in wholly-owned subsidiary Fabtech Technologies LLC in Sharjah (EPC business) and Rs. 2.49 crore in FT Institutions Private Limited (pharma subsidiary). Board also noted completion of Independent Director Shyam Khante's tenure, approved reconstitution of Audit, NRC and CSR committees, and increased the borrowing limit (within Section 180 limits, so no shareholder approval needed).
Capital infusion into subsidiaries signals expansion in EPC and pharma verticals; higher borrowing limit boosts financial flexibility. Director change is routine tenure expiry.