Outcome of the Board Meeting held on Friday, December 12, 2025
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Lakhotia Polyesters' board, at its meeting on December 12, 2025, approved acquiring 100% stake in New Nexus FZ LLC, a Dubai-based Free Zone Limited Liability Company incorporated in January 2025. The target entity is in the general trading business and reported nil turnover in FY2025. The acquisition is a related party transaction because the company's Managing Director and promoter, Mr. Madhusudan Lakhotiya, currently holds all 100 shares of the target (face value AED 1,000 per share). The total deal value is 100,000 AED in cash, with the stated aim of expanding the company's business geography into the African region. The transaction requires Overseas Direct Investment (ODI) approval and is expected to be completed by March 31, 2026.
The deal is financially tiny — the target is newly incorporated with zero revenue — so there is little immediate impact on earnings or valuation. However, the related-party nature of the transaction and the promoter already holding the target's shares may draw governance scrutiny from shareholders.