Garuda Construction and Engineering Limited has informed the Exchange about Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Incorporation of a wholly owned subsidiary Company (WOS) in Saudi Arabia.
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Garuda Construction and Engineering Limited has approved the incorporation of a wholly owned subsidiary, 'Garuda Arabia Limited (Limited Liability Company)', in Saudi Arabia. The board, at its meeting on June 17, 2025, cleared an investment of SAR 1,000,000 (approximately ₹2.2 crore) as paid-up share capital for the new entity. Garuda Construction will hold 100% of the subsidiary, which will operate in the construction services sector. The new entity has not yet commenced business operations, and no separate regulatory approvals are required for the setup.
This move signals Garuda Construction's international expansion into the Middle East, potentially opening new revenue streams in the Saudi construction market. While the initial investment is modest, the strategic intent to provide construction services abroad could be viewed positively by investors looking for growth beyond domestic markets.