Urban Company Limited has informed the Exchange about Approval for incorporation of a step down subsidiary company in UAE
URBANCO · price
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Urban Company Limited has approved the incorporation of a wholly owned step-down subsidiary in the United Arab Emirates through its Singapore-based wholly owned subsidiary, Urban Home Experts Pte Limited. The new entity will be set up with an initial investment of INR 3 crore, to be deployed in one or more tranches. The subsidiary will undertake general trading activities, including selling products to aggregators and third-party service providers on the UC platform in the UAE, as well as the sale of Native products in the region. The move marks the company's continued international expansion beyond India. Further disclosures under SEBI Listing Regulations will follow in due course.
This is a small investment (INR 3 crore) aimed at expanding Urban Company's footprint into the UAE market through a wholly owned structure, giving it full control over its overseas operations. While not material in financial terms, it signals management's focus on international growth, particularly in the Gulf region.