Announcement under Regulation 30 of SEBI (LODR)
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Suraj Products Limited has incorporated a new wholly owned subsidiary named 'Suraj Iron & Steel Manufacturers L.L.C.-S.P.C.' in Dubai, United Arab Emirates. The subsidiary was set up on January 7, 2025, and will operate in the manufacturing of ferro alloys, iron and steel, including green steel. The company has invested AED 1,50,000 (approximately ₹34 lakhs) as equity share capital, comprising 1,500 equity shares of AED 100 each, with 100% shareholding held by Suraj Products Limited. The new entity is yet to commence business operations. The transaction is not a related party transaction and no promoter interest is involved.
This is a small-scale international expansion move to set up an overseas subsidiary in the UAE, focused on iron and steel manufacturing. While the immediate capital outlay is modest, it signals the company's intent to explore global markets or set up a foothold in the Middle East for its core products, though operations are yet to begin so there is no near-term impact on revenue or earnings.