Intimation under Regulation 30 of the SEBI (LODR) Regulations, 2015-Incorporation of Subsidiary Company
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Sobhagya Mercantile Ltd has incorporated a new subsidiary, Vadakhol Asoli Mining Private Limited, in Nagpur on 25th April, 2026. The listed company holds 60% stake (60,000 equity shares of Rs 10 each) while Caliber Mining and Logistics Limited holds the remaining 40%. The subsidiary was formed with an initial capital of Rs 10 lakh and focuses on composite mining of critical minerals including nickel, chromium, and cobalt. The subsidiary operates under a Letter of Award from Assam Mineral Development Corporation Limited for the Vadakhol Asoli Mineral Block. The acquisition is not a related party transaction and was conducted at arm's length. MCA approval was received on 25th April, 2026.
This acquisition marks Sobhagya Mercantile's entry into critical minerals mining, aligning with government initiatives for domestic mineral development. The 60% subsidiary structure provides the listed company control over a new business segment focused on high-value minerals. However, the impact on stock price may be limited given the early-stage nature of the subsidiary with no revenue yet.