Vibhor Steel Tubes Approves Creation of Wholly Owned Subsidiary for Infrastructure Products
Vibhor Steel Tubes Limited has approved the formation of a new wholly owned subsidiary company named Viyom Steel Infra Private Limited. The move is intended to expand the company’s focus into specialized high-quality steel products catering exclusively to the infrastructure sector.The board meeting sanctioned by Vibhor Steel Tubes Limited greenlit the incorporation of the subsidiary under the provisions of the Companies Act 2013. This new entity, Viyom Steel Infra Private Limited, is proposed to be incorporated in Hisar, Haryana, India.
The specialized business of the WOS (Wholly Owned Subsidiary) company is defined as manufacturing high-quality steel products destined for infrastructure use. These products include transmission towers, monopoles, crash barriers, octagonal poles, High Mast Poles, and Pre-Fab Structures.
Regarding the financial structure of the venture, Vibhor Steel Tubes Limited will hold 100% shareholding and control over Viyom Steel Infra Private Limited. The company confirmed that the consideration for the initial paid up share capital of the WOS is cash. The entire initial paid up share capital set at Rs 10,00,000 (issued at par value) will be subscribed by Vibhor Steel Tubes Limited.
The formation of this subsidiary falls under the industry classification of Steel Products and is expected to solidify the company’s presence in serving specialized infrastructure needs.
VSTL Stock Price Movement
Shares of Vibhor Steel Tubes Limited are rising robustly to ₹115.80 as of 12:03 PM, reflecting a strong 2.08% gain in live trading. The stock trades within a tight intraday range after climbing from a low of ₹113.00 and currently approaching the daily high of ₹115.85.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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