Pls find attached disclosure for incorporation of Subsidiary Company.
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Sancode Technologies Ltd has incorporated a new wholly-owned subsidiary called 'Sancode Semi Private Limited' with the company holding 99.99% shareholding (9,999 equity shares). The total investment is Rs. 99,990 in cash for shares of Rs. 10 face value each, against a paid-up capital of Rs. 1 lakh. The new subsidiary will operate in the semiconductor and microchip business, including manufacturing, designing, assembling, and trading of semiconductors, integrated circuits, microchips, and electronic components. The move is described as a strategic investment to enter the semiconductor and microchip space, which is outside Sancode's current main line of business. No regulatory approvals were required and the transaction is not classified as a related-party deal.
This is a small initial investment (under Rs. 1 lakh) but signals management's intent to diversify into the semiconductor sector, which could be seen positively as a growth-oriented strategic move. However, the subsidiary is newly formed with no revenue, so near-term financial impact is negligible.