Recode Studios Invests in Step-down Subsidiary Three O Verse Global IT Services L.L.C.
Recode Studios Ltd has invested in its step-down subsidiary, Three O Verse Global IT Services L.L.C., providing necessary funding for working capital requirements of the entity. The investment was completed on July 06, 2026, involving a cash consideration amounting to AED 38.43 Lakh, which is equivalent to Rs. 10.08 crores.Three O Verse Global IT Services L.L.C., which is a wholly owned subsidiary of Ticker Limited (a subsidiary of Recode Studios), received the investment in exchange for 3843 equity shares, each valued at AED 1000/-. The transaction was conducted on an arm's length basis and falls under the category of related party transactions, given that the company holds a 67.49% stake in Ticker Limited.
Three O Verse Global IT Services L.L.C. was incorporated on October 14, 2022, in the United Arab Emirates. The entity is engaged in various services including Data Classification & Analysis Services, Internet Content Provider operations, IT Infrastructure management, and providing Information Technology Network Services.
The investment was aimed at meeting the working capital requirements of Three O Verse Global IT Services L.L.C., with the transaction being approved by the Department of Economy & Tourism, UAE.
Financial Snapshot of Three O Verse Global IT Services L.L.C. (AED in Lakhs)
A brief look into the financial performance of Three O Verse Global IT Services L.L.C. shows its turnover and net worth across the last three fiscal years:| Year | Turnover | PAT (Loss) | Networth |
|---|---|---|---|
| 2023-24 | AED 3.63 | N/A | N/A |
| 2024-25 | AED 2.33 | N/A | N/A |
| 2025-26 | AED 15.28 | AED (133.25) | AED 39.55 |
Stock Price Movement
Recode Studios Ltd. shares settled at ₹192.00 today, marking a decline of 2.02%. The stock experienced significant intraday volatility, trading within a range that spanned from a low of ₹187.70 to a high of ₹195.95.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.