Tinna Rubber and Infrastructure Limited Infuses Funds into Saudi Arabia Subsidiary for Expansion
Tinna Rubber and Infrastructure Limited has proceeded with an investment in its wholly owned subsidiary, Tinna Rubber Arabia Limited, located in Saudi Arabia. This move is part of a broader strategy aimed at business expansion across Saudi Arabia and other Middle Eastern countries.The company plans to infuse funds totaling not exceeding INR 15,00,00,000/- (Rupees Fifteen Crores Only) into the subsidiary through various tranches.
In the first tranche of this investment, Tinna Rubber and Infrastructure Limited has invested SAR 3,40,000. This payment was made for the subscription of 50 shares at a price of SAR 6800 per share, which is equivalent to approximately INR 87,31,164.
The subsidiary focuses on the collection and shredding of waste tyres and materials, positioning itself within the industry of resource recovery. The operational objectives include processing and recycling old used tyre scrap to produce crumb rubber, steel scrap, and other value added products. This venture is intended both to expand manufacturing capabilities and to secure a source of raw material at an economical price point, with a proposed capital expenditure (CAPEX) estimated at approximately INR 15 Crores.
Key details regarding Tinna Rubber Arabia Limited are as follows:
| Particulars | Details |
|---|---|
| Target Entity | Tinna Rubber Arabia Limited, Saudi Arabia |
| Incorporation Date | June 24, 2024 |
| Line of Business | Collection and shredding of waste tyres; Processing/Recycling old used tyre scrap to make crumb rubber, steel scrap and other value added products. |
| Investment Status | Wholly owned subsidiary (100% shareholding) |
| Current Transaction Details | SAR 3,40,000 for 50 shares of SAR 6800 each; equivalent to approx. INR 87,31,164 |
TINNARUBR Stock Price Movement
Tinna Rubber and Infrastructure Limited shares shed 0.45% on Wednesday, settling at ₹1127.8 after posting a decline of ₹5.00. The stock traded amid previous day's activity, with 81,071 shares passing through the market.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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