Approval of investment in share capital of the Subsidiary Company, in one or more tranches
Price
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Indag Rubber Limited's Board has approved further strategic investment of Rs. 2.30 Crores in its subsidiary Millenium Manufacturing Systems Private Limited. The investment will be by way of acquisition and/or subscription to equity and preference shares equivalent to 51% of the issued and paid-up share capital of the investee company. This is a related party transaction done at arm's length. The investee company operates in the green energy sector, manufacturing power conversion systems for battery energy storage systems. The remaining 49% stake will be subscribed by two related party entities under common promoter control. The investment is intended to support business operations and growth plans, to be completed on or before March 31, 2027.
This investment strengthens Indag Rubber's presence in the green energy sector through its subsidiary. The transaction is relatively small (Rs. 2.30 Crores) and involves existing subsidiary funding rather than a major expansion, so direct stock price impact is likely minimal.