Incorporation of Wholly Owned Subsidiary Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Fractal Industries Ltd's board has approved the incorporation of a wholly owned subsidiary named 'Bishwanath Kashinath Foundation' to carry out CSR and charitable activities. The proposed subsidiary will have an authorised capital of Rs. 1,00,000 (10,000 equity shares of Rs. 10 each), and the company will subscribe to 100% of the capital at a cost of Rs. 1,00,000. The transaction qualifies as a related party deal since the promoter is also proposed as a director in the new entity. Separately, the board approved audited financial results for the half year ended September 30, 2025, and appointed a Secretarial Auditor and Internal Auditor for FY 2025-26. The subsidiary is expected to be incorporated within 30 days, subject to MCA approval.
This is a small, non-core move limited to setting up a CSR vehicle with a token capital outlay of Rs. 1 lakh, so it is unlikely to materially affect the stock price or shareholder value. The related-party nature is worth noting, though the financial exposure is negligible.