MITCON Consultancy & Engineering Services Limited Announces Incorporation of New Step-Down Subsidiary for Power Trading
MITCON Consultancy & Engineering Services Limited has announced the incorporation of a new wholly owned subsidiary, MITCON Power Trading Limited. The entity is being established to facilitate business expansion within the power trading sector.The new entity is a step-down subsidiary of MITCON Consultancy & Engineering Services Limited. It was incorporated by MITCON Sun Power Limited, which is a wholly owned subsidiary of the ultimate holding company. This strategic move is intended to drive growth for the parent group by expanding its operational footprint in power trading.
MITCON Power Trading Limited was officially incorporated on June 19, 2026, in India. As a newly formed entity, there is no turnover data available for the period ending March 31, 2026. The company will operate in the power trading industry, and its incorporation does not require specific governmental or regulatory approvals.
The financial structure of the new subsidiary is as follows:
| Detail | Information |
|---|---|
| Entity Name | MITCON Power Trading Limited |
| Industry | Power Trading |
| Authorized Share Capital | Rs. 2,00,000 |
| Paid-up Share Capital | Rs. 1,00,000 |
| Subscription Details | 10,000 Equity shares at par value of Rs. 10 each |
| Ownership Stake | 100% of the Paid-Up Capital |
| Nature of Consideration | Cash |
The incorporation of MITCON Power Trading Limited constitutes a related party transaction. However, the ultimate holding company does not have any promoter or promoter group companies involved in this specific entity's structure. The acquisition and setup were executed at arm's length.
MITCON Sun Power Limited, along with its nominees, subscribed to the entire paid-up capital of the new subsidiary. The expansion into power trading is expected to contribute to the overall growth of the ultimate holding company.
MITCON Stock Price Movement
Shares of MITCON Consultancy & Engineering Services Limited on Friday slipped by 0.64% to settle at ₹74.95. The stock traded with a volume of 621 shares as it navigated a wide intraday range between ₹72.1 and ₹75.8.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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