NAPS Global India Ltd Incorporates Wholly Owned Subsidiary in Hong Kong
NAPS Global India Ltd has established a Wholly Owned Subsidiary (WOS) named NAPS GLOBAL HK LIMITED in Hong Kong to aid in its expansion efforts overseas.The company incorporated NAPS GLOBAL HK LIMITED in Hong Kong and reported that the entity has not yet commenced business or operations. It is registered with an authorized capital of HKD 1,00,000 and has therefore not generated any turnover to date.
The incorporation of the subsidiary is aimed at capturing the overseas market and expanding the business operations of NAPS Global India Ltd.
Key details regarding the new subsidiary are presented below.
| Particulars | Details |
|---|---|
| Name of the target entity | NAPS Global HK Limited |
| Location | Hong Kong |
| Status | Incorporated as a WOS |
| Business Sector | Trading |
| Authorized Capital | HKD 1,00,000 |
The acquisition structure involves NAPS Global India Limited subscribing to the equity share capital of the new WOS entirely in cash.
For the initial subscription, NAPS Global India Limited acquired 10,000 shares of HKD 10 each, totaling HKD 1,00,000 (approximately INR 11,86,322). This transaction grants NAPS Global India Limited 100.00% shareholding in the subsidiary.
The transaction does not fall within related party transactions, as NAPS Global HK Limited has been incorporated as a Wholly Owned Subsidiary of NAPS Global India Limited. The promoter/promoter group interest in the entity is limited to their existing shareholding in NAPS Global India Limited.
NAPS Global India Limited, formerly known as NAPS Global India Pvt. Ltd. and NAPS Trading Pvt. Ltd., maintains its registered office at Office No. 11, 2nd Floor, 436 Shreenath Bhuvan, Kalba Devi Road, Mumbai City, Mumbai, Maharashtra, India, 400002.
Stock Price Movement
NAPS Global India Ltd concluded the trading day having climbed 2.11%, settling shares at ₹36.25. Throughout the session, the stock remained completely flat, holding steady right at the ₹36.25 mark.Source:
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