<h1>Sansera Engineering and Nichidai Corporation finalize subsidiary structure following equity allotment</h1>
Sansera Engineering Limited has seen a significant restructuring in its wholly owned subsidiary, Nichidai Sansera Private Limited, following a strategic joint venture agreement with Nichidai Corporation. The Board of Directors of Nichidai Sansera Private Limited recently approved the allocation of 8,000 equity shares, each valued at Rs.10/-, to Nichidai Corporation.
This transaction completes the corporate setup initiated through the Joint Venture Agreement between Nichidai Corporation and Sansera Engineering Limited. The completion of this allotment has reconstituted the shareholding structure within Nichidai Sansera Private Limited.
The resulting equity distribution is detailed below, reflecting the terms agreed upon in the joint venture agreement.
| Entity | Shareholding (%) |
|---|---|
| Sansera Engineering Limited (The Company) | 60% |
| Nichidai Corporation | 40% |
The establishment of Nichidai Sansera Private Limited as a wholly owned subsidiary and the subsequent share allotment solidify the partnership between the two companies, positioning them according to the terms outlined in their Joint Venture Agreement.
SANSERA Stock Price Movement
Shares of Sansera Engineering Limited today slipped by 2.19% to settle at ₹3188.7 after trading in the post-market session. The stock saw significant activity, with total traded volume reaching 342,505 shares during the day.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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