Laxmi Cotspin Limited has informed the Exchange regarding Board meeting held on July 31, 2025.
LAXMICOT · price
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Laxmi Cotspin Limited's Board of Directors, at a meeting held on July 31, 2025, approved the incorporation of a wholly-owned subsidiary named 'Laxmi Style & Design Private Limited' (subject to MCA approval). The new subsidiary will operate in the manufacturing, trading, and export of readymade garments, which the company states is within its existing line of business. The company will invest Rs. 1,00,000 (Rs. 1 lakh) in cash for 100% shareholding at the time of incorporation. Promoter and promoter group have no interest in the new entity beyond their existing holding in the parent company. Necessary regulatory approvals will be sought, and further updates will follow once the subsidiary is incorporated.
This is a small, strategic expansion move with minimal financial commitment (just Rs. 1 lakh) and unlikely to materially affect the stock price in the short term. Shareholders should watch for future updates on the subsidiary's operations and capital infusion as it moves into the readymade garments segment.