Fabtech Technologies invests up to Rs 26.49 Cr in two wholly-owned subsidiaries

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FABTECH · price

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AI summary

Fabtech Technologies board approved investing up to Rs 24 Cr in its UAE wholly-owned subsidiary Fabtech Technologies LLC (EPC business) via Overseas Direct Investment, and Rs 2.49 Cr in FT Institutions Pvt Ltd (pharma and biotech, India). Both are existing 100 percent wholly-owned arms. Independent Director Shyam Khante's term ended on June 25, audit, nomination and CSR committees were reconstituted from June 26, and borrowing limits were raised within Section 180(1)(c) of the Companies Act.

Likely market impact

Capital infusion into existing subsidiaries signals expansion push in UAE EPC and Indian pharma/biotech. Higher borrowing capacity and board reset may support growth plans.