Intimation of approval for incorporation of Wholly owned Subsidiary in United States of America
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Radix Industries' Board, at its meeting on August 4, 2025, approved several items including the incorporation of a wholly owned subsidiary in the United States, to be named 'Radix Inc.' (or as approved by US authorities). The new entity will operate in the human hair and hair-related products business, focusing on marketing, distribution, and sales. The proposed authorised and paid-up capital is USD 1,000 each, with Radix Industries holding 100% control through a cash subscription. The Board also approved Q1 FY26 unaudited financial results, accepted the resignation of Company Secretary P. Lenin Babu, appointed K.S. Gaurav Tummala as the new Company Secretary effective August 5, 2025, and recommended M/s. P S Rao & Associates as the secretarial auditor for a five-year term.
The move signals Radix Industries' international expansion into the US market for its core human hair products business, potentially opening new revenue streams. However, the very small initial capital (USD 1,000) suggests this is an early-stage entry with limited immediate financial impact on the listed entity.