DMR Engineering Ltd Incorporates Subsidiary in Bhutan to Expand Services
DMR Engineering Limited has expanded its international footprint by establishing a subsidiary company in Thimphu, Bhutan. The new entity, DMR Services Private Limited, has been incorporated under the Corporate Regulatory Authority of Bhutan, with DMR Engineering Limited taking a controlling stake through the acquisition process.DMR Services Private Limited is focused on providing engineering and technical consultancy services. This move is intended to allow DMR Engineering Limited to expand its business operations by offering such services within the Bhutanese market, which aligns with the parent company's core business.
The Company subscribed 1,75,000 shares of DMR Services for cash consideration, securing a 70% shareholding and control in the new subsidiary. The total consideration paid for these shares amounted to BTN 1,75,00,000/-.
DMR Engineering Limited holds 70% interest in DMR Services, making it a fully established subsidiary. The newly incorporated entity has an authorized capital of BTN 40,00,00,000, with a paid-up capital of BTN 2,50,00,000, comprising 2,50,000 shares of BTN 100/- each.
Key details regarding the subsidiary and the transaction are summarized below:
| Particulars | Details |
|---|---|
| Subsidiary Name | DMR Services Private Limited |
| Nature of Business | Providing engineering and technical consultancy services |
| Control Acquired | 70% through subscription of 1,75,000 shares |
| Consideration Paid | BTN 1,75,00,000/- (Cash) |
| Location | Thimphu, Bhutan |
Stock Price Movement
DMR Engineering Ltd settled at ₹32.50 on Thursday, ticking up 0.62% in the close of trading. The stock remained completely locked throughout the day, never moving outside its intraday range of ₹32.50.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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