The Board of Directors of the Company, at its Meeting held on Friday, December 12, 2025 has approved the proposed acquisition of 100% stake in the New Nexus FZ LLC a Dubai - based Entity.
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Lakhotia Polyesters' board has approved acquiring 100% stake in New Nexus FZ LLC, a Dubai Free Zone company in the general trading business. The deal is small in size — 100 shares at AED 1,000 each, totalling AED 100,000 (roughly ₹23 lakh). The target was incorporated only in January 2025, has nil turnover, and the acquisition is being done to help the company expand into the African region. The transaction is a related-party deal since Managing Director Madhusudan Lakhotiya currently holds all 100 shares of the target entity, though pricing is stated to be at arm's length. The acquisition requires Overseas Direct Investment (ODI) approval and is expected to close by March 31, 2026.
Financially immaterial in the near term given the tiny deal size and zero-revenue target, but shareholders should note this is a related-party transaction into a non-core, newly-formed entity. Watch for ODI approval and post-acquisition performance to gauge if African expansion plans materialise.