Intimation of Incorporation of Wholly owned subsidiary Company
PRAVEG · price
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Awaiting price reaction for this filing.
Praveg Ltd has incorporated a new wholly owned subsidiary named 'Praveg Rannutsav Private Limited' on December 20, 2025, with its registered office in Ahmedabad, Gujarat. The subsidiary has been set up to develop and operate a resort (rooms and dormitories) at Dhordo, Kutch, Gujarat, which is in line with Praveg's existing hospitality business. The subsidiary has an authorized and paid-up capital of Rs. 1 lakh each, with Praveg holding 100% equity for a total cash consideration of Rs. 1 lakh. The new entity currently has nil turnover and net worth as it has just been incorporated.
This is a small, strategic step into a specific resort project at Dhordo, Kutch (likely near the Rann of Kutch tourism area). For shareholders, it signals focused expansion of the hospitality vertical, but the financial outlay is negligible, so near-term impact on stock price or earnings is limited.