SecMark Consultancy Limited Approves Incorporation of Wholly Owned Subsidiary for Financial Aggregation
SecMark Consultancy Limited has approved the incorporation of a new subsidiary company, designed to operate as an Account Aggregator in the financial sector. The move establishes a dedicated entity to manage and aggregate financial information, operating under the umbrella of the parent listed company.The proposed entity is named SECMARK FINANCIAL AGGREGATION PRIVATE LIMITED (Under incorporation). SecMark Consultancy Limited serves as the holding company, maintaining 100% ownership of the new subsidiary.
The newly incorporated company will operate within the Non-Banking Financial Company sector, focusing on the role of an Account Aggregator. Its core business involves retrieving or collecting financial information belonging to account holders from specified Financial Information Providers. This process is contingent upon the explicit consent provided by the account holders.
Furthermore, the subsidiary's mandate includes consolidating, organizing, and presenting this collected financial data to any designated Financial Information User, also in accordance with the consent of the account holders. The operation remains subject to obtaining the requisite Certificate of Registration from the Reserve Bank of India (RBI).
Details concerning the creation and subscription of the entity are as follows:
| Detail | Specification |
|---|---|
| Subsidiary Name | SECMARK FINANCIAL AGGREGATION PRIVATE LIMITED |
| Industry | Account Aggregator / Non-Banking Financial Company |
| Holding Company | SecMark Consultancy Limited |
| Shareholding by Listed Entity | 100% |
| Consideration Type | Cash subscription |
| Shares Allotted | 10,000 equity shares |
| Subscription Price | Rs. 10/- each |
| Total Subscription Cost | Rs. 1,00,000/- (Rupees One lakh only) |
SECMARK Stock Price Movement
Today, SecMark Consultancy Limited shares settled higher at ₹123.94 after trading closed, gaining 1.28% from the previous close of ₹122.43. The stock saw a total traded volume of 361 shares during the session.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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