Carysil Ltd. Announces Board Decisions Including Asset Acquisition and Subsidiary Restructuring

Carysil Ltd. Announces Board Decisions Including Asset Acquisition and Subsidiary Restructuring​

Carysil Ltd. announced several key decisions following a board meeting held on March 20, 2026. The company approved the appointment of M/s BDO India LLP as the Internal Auditor and M/s S.S. Puranik & Associates as the Cost Auditor for the financial year 2026-27.

The Board also approved an extension of the timeline for the utilization of Qualified Institutional Placement (QIP) proceeds, shifting the deadline from March 31, 2026, to March 31, 2027. This extension does not involve any changes to the objects or utilization of the QIP proceeds.

Furthermore, the company approved the transfer of business, assets, and liabilities of Carysil Brassware Limited, a wholly owned step-down subsidiary in the United Kingdom, to Carysil Products Limited, also a wholly owned step-down subsidiary in the United Kingdom. Following the transfer, Carysil Brassware Limited will propose a voluntary strike-off under the UK Companies Act 2006. The company also approved the voluntary strike-off of Carysil Ceramictech Limited, a wholly owned subsidiary, due to its inability to commence business.

Carysil Products Limited, a wholly owned step-down subsidiary, is set to acquire 100% of the issued share capital of Setu Capital Limited, incorporated in England and Wales, U.K., for an estimated enterprise value of GBP ~2.27 million. This acquisition includes the underlying assets of Setu Capital Limited, which is the office property situated at Monk Street in London, U.K. The acquisition comprises a cash consideration of GBP 325,000 and the assumption of loan and liabilities.

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