Moksh Ornaments Limited has informed the Exchange about Intimation of proposed formation of a Subsidiary Company.
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Moksh Ornaments Limited is planning to incorporate a wholly-owned subsidiary named Moksh Finance and Investments (India) Private Limited, with Moksh holding a 99.99% stake. The new entity will operate in the Non-Banking Financial Company (NBFC) space, a line of business outside Moksh's existing operations of manufacturing and exporting Kolkata bangles. The proposed authorized capital is Rs. 1 lakh, and the investment will be made through 100% cash subscription. The subsidiary has been approved by the Ministry of Corporate Affairs but is yet to be incorporated, and the company has not disclosed a timeline for completion.
This move diversifies Moksh Ornaments into financial services, which could open new revenue streams but also signals a shift away from its core bangle business. For shareholders, it is a forward-looking strategic step, though the small initial capital suggests a cautious entry. The stock may see modest interest depending on market perception of the NBFC opportunity.