IFGL Refractories Limited Incorporates Subsidiary in Saudi Arabia
IFGL Refractories Limited has established a new presence in the Middle East, having incorporated a subsidiary in Saudi Arabia. The company introduced the entity, IFGL Monocon Saudi Company Limited, which was incorporated in Saudi Arabia on July 11, 2026.The new venture falls within the Refractory Industry and is dedicated to trading activities. Its scope of business includes the buying and selling of Refractories along with ancillary products and services. The incorporation process involved no governmental or regulatory approvals being required for the entity's setup.
IFGL Refractories Limited holds a controlling stake in the new subsidiary, having secured 100% ownership of its shares. In relation to this transaction, the company subscribed 1,000 Shares of SAR 100 each. The consideration for the incorporation was recorded as nil.
IFGLEXPOR Stock Price Movement
Shares of IFGL Refractories Limited shed 3.03% today to settle at ₹223.52, having dropped ₹6.99 from the previous close. The stock traded on 48,697 shares during the session, hitting an intraday low of ₹220.81.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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