Darjeeling Industriies Ltd Incorporates Subsidiary in Defence and Industrial Manufacturing
Darjeeling Industriies Ltd, formerly known as Darjeeling Ropeway Company Limited, has established a new subsidiary, NOVVA DEFENCE IINDS LIMITED. The company confirmed that the subsidiary was incorporated on January 30, 2026, establishing a foothold in the industrial manufacturing and defence systems sector.The subsidiary is structured with an Authorized Share Capital of Rs. 10,00,000, divided into 10,00,000 equity shares of Re. 1.00 each. The Paid-up Share Capital stands at Rs. 9,99,600, representing 9,99,600 equity shares of Re. 1.00 each.
In this transaction, Darjeeling Industriies Limited holds a substantial 99.64% shareholding in NOVVA DEFENCE IINDS LIMITED. The entire subscription to the share capital is reported as being in cash, with the initial contribution made at face value. The directors involved in the subscription to the shares are the company's Director, Mr. Ashok Jain, and Viha Jain. Given that the subsidiary is a related party to Darjeeling Industriies Limited, the subscription of shares was executed on an Arm's Length Price.
The primary scope of the subsidiary is highly diverse, spanning both industrial products and defense equipment. Industrially, NOVVA DEFENCE IINDS LIMITED aims to manufacture, design, and trade a wide range of components, including pumps, valves, compressors, pipes, fittings, and material handling equipment.
In the defence sector, the company intends to engage in the design, manufacture, import, export, and repair of both lethal and non-lethal defence equipment and systems. This includes military vehicles (land, naval, and aerial), aerospace and avionics systems, and communication and electronic systems. Furthermore, the subsidiary plans to provide technical support, maintenance, repair, overhaul (MRO), and lifecycle management services for equipment used by armed forces, paramilitary forces, police, and authorized security agencies.
The core details regarding the new subsidiary are summarized below:
| Particulars | Detail |
|---|---|
| Subsidiary Name | NOVVA DEFENCE IINDS LIMITED |
| Incorporation Date | January 30, 2026 |
| Industry Sector | Industrial manufacturing and defence systems |
| Authorized Share Capital | Rs. 10,00,000 |
| Paid-up Share Capital | Rs. 9,99,600 |
| Darjeeling Industriies Ltd Shareholding | 99.64% |
| Transaction Form | 100% cash subscription |
The company noted that while the subsidiary is yet to commence its business operations, its strategic mandate covers supporting critical infrastructure through industrial products while simultaneously positioning itself within the defence technology supply chain.
Stock Price Movement
Darjeeling Industriies Ltd shares settled at ₹30.90 today, marking a 2.55% drop on Wednesday. Throughout the session, the stock found itself swinging between a high of ₹32.90 and a low of ₹30.13.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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