Intimation on Incorporation of Wholly Owned Subsidiary.
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Rajkamal Synthetics Limited has approved, in principle, the incorporation of a wholly owned subsidiary named 'ELIRALUXE SKINCARE PRIVATE LIMITED'. The new subsidiary will have an initial paid-up capital of Rs. 1 crore. The company is moving from its core textile/synthetic fabrics business into the skincare segment. The incorporation is subject to approval from the Ministry of Corporate Affairs and other regulatory bodies.
This is a diversification move into the skincare/beauty segment for a small textile company, which may attract speculative interest. However, Rs. 1 crore is a small initial capital commitment, so any material impact on the listed entity's financials or stock price is likely limited in the near term.