Announcement under regulation 30 of SEBI LODR for incorporation of wholly owned subsidiary in United Arab Emirates
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Storage Technologies and Automation Ltd has incorporated a wholly owned subsidiary named Racks and Rollers FZ LLC in the United Arab Emirates on 19 September 2025. The subsidiary has a share capital of 1,00,000 AED and will operate in the same line of business as the parent — designing, manufacturing, and installing storage racking systems, automated warehouses, and other storage solutions. Storage Technologies holds 100% of the shareholding in the new entity. No cash consideration, valuation, or related-party issues are involved since it is a newly incorporated entity, not a purchase of an existing business. The disclosure was made to BSE on 22 September 2025 under Regulation 30 of SEBI LODR.
For shareholders, this is a small, in-line international expansion move that signals the company's intent to access the UAE market using its own capital. The financial impact is likely minor given the modest initial capital, but it could open a new geography for growth in warehousing and racking solutions.