Bodhtree Consulting Ltd Approves Incorporation of 95% Foreign Subsidiary in United States for US Expansion
Bodhtree Consulting Ltd has announced the approval of a Board resolution regarding the incorporation of a new majority-owned foreign subsidiary in the United States of America. The move is intended to expand the company's operational footprint into the North American market.The newly incorporated entity, which will operate under the name 'Datakosa Inc.' or another name approved by relevant authorities in the USA, will be focused on Information Technology and IT enabled services. The subsidiary’s objective is aligned with the main line of business of Bodhtree Consulting Ltd, facilitating its growth into the United States market.
The incorporation process involves the subscription of 95% of the paid-up share capital by Bodhtree Consulting Ltd. This initiative brings together Bodhtree Consulting Ltd and one of its promoters, Mr Prem Anandh, who will jointly incorporate the entity with a 95:5 investment ratio. The transaction has been structured to be undertaken at arm's length.
The initial investment for this undertaking is capped at USD 10,000 (United States Dollars Ten Thousand only). Bodhtree Consulting Ltd plans to discharge the consideration in cash, which will be remitted through normal banking channels and in compliance with applicable laws.
Details regarding the proposed subsidiary and the transaction are summarized below:
| Particulars | Description |
|---|---|
| Proposed Entity Name | Datakosa Inc. (or approved name) |
| Location | United States of America |
| Industry | Information Technology and IT enabled services |
| Ownership Acquired by Bodhtree Consulting Ltd. | 95% of the paid-up share capital |
| Total Initial Investment | Up to USD 10,000 |
| Nature of Business Objective | Expanding existing business operations into the United States of America |
The application for incorporation is expected to be filed shortly. The completion of the process is anticipated within a reasonable period, subject to securing requisite approvals from competent authorities in the United States of America.
Stock Price Movement
Bodhtree Consulting Ltd. shares closed trading today, settling at ₹18.26 after falling by 3.49%. The stock spent the day fluctuating within a significant intraday range, hitting highs near ₹20.25 and touching lows close to ₹18.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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