Manas Polymers and Energies Limited Board Approves Wholly Owned Subsidiary in Dubai, UAE
Manas Polymers and Energies Limited announced that its Board of Directors, meeting on June 2, 2026, approved the proposal for incorporating a Wholly Owned Subsidiary (WOS) in Dubai, United Arab Emirates.The establishment of the proposed subsidiary is intended to facilitate the company's international business expansion, strengthen its presence in overseas markets, and enable the undertaking of business activities approved by the Board from time to time.
The proposed entity will operate from Dubai, United Arab Emirates, and will be held as a Wholly Owned Subsidiary, with the company maintaining 100% shareholding.
The key details regarding the proposed subsidiary are outlined below:
| Particulars | Details |
|---|---|
| Name of the Target Entity | Proposed Wholly Owned Subsidiary (Name yet to be finalized) |
| Promoter/ Promoter Group Interest | The proposed entity shall be a Wholly Owned Subsidiary of the Company |
| Industry to which the Entity Belongs | To be determined based on the approved business activities |
| Object of Incorporation | Overseas business expansion and development of international markets |
| Country of Incorporation | Dubai, United Arab Emirates |
| Percentage of Shareholding | 100% |
| Consideration | Initial capital contribution as may be approved by the Board and permissible under applicable laws |
The company will make further disclosures upon the completion of the incorporation process and receipt of relevant incorporation documents from the concerned authorities.
MPEL Stock Price Movement
Today, Manas Polymers and Energies Limited shares shed 2.09%, closing at ₹45.5 after falling ₹0.95 to finish the trading day. The equity saw a traded volume of 25,600 shares during the session.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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