Pee Cee Cosma Sope Ltd Approves Rs 5 Crore Investment in Wholly Owned Subsidiary India Trading Infra Ltd
Pee Cee Cosma Sope Limited has approved a significant investment into its wholly owned subsidiary, India Trading Infra Ltd. The capital infusion is set to support the subsidiary’s expansion and improve liquidity positioning as the company addresses growing business requirements.The Executive Committee of Pee Cee Cosma Sope Limited sanctioned the investment amounting up to Rs 5,00,00,000 (Five crore only). This investment involves subscribing towards the rights issue for up to 50,00,000 equity shares of India Trading Infra Ltd., at a face value of Rs 10 per share.
This acquisition represents a full commitment from Pee Cee Cosma Sope Limited, accounting for 100% of the share capital in India Trading Infra Limited. The consideration for the investment is via cash.
Investment Details and Subsidiary Profile
The capital infusion is intended to address working capital needs and aid in the expansion of business activities within the subsidiary. Currently, India Trading Infra Limited possesses sufficient capital adequacy and liquidity to manage its existing liabilities.Key details regarding the target entity and the acquisition are as follows:
| Detail | Information |
|---|---|
| Target Entity Name | India Trading Infra Limited (formerly Surajbhan Agencies Limited) |
| Nature of Business | Trading of Infrastructure materials and solutions |
| Subsidiary Turnover | 23.00 lacs |
| Investment Amount | Rs 5,00,00,000 |
| Shares Acquired | Up to 50,00,000 equity shares (at par) |
India Trading Infra Limited was incorporated under the Companies Act, 1956, on March 29, 1993. The company is engaged in the business of infrastructure-related materials and solutions.
Stock Price Movement
As of 13:37, Pee Cee Cosma Sope Ltd. is edging higher at ₹387.90, registering a 0.96% gain for the day. The shares saw active trading within the intraday range, reaching a high of ₹393.95 and dipping to a low of ₹380.00.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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