B.C. Power Controls Limited has announced the incorporation of its wholly owned subsidiary, Proxima Industries Private Limited. Established on November 22, 2024, Proxima Industries is based in Delhi and will operate in the construction and trading sectors, including metals and other goods.
The subsidiary has an authorized and paid-up capital of ₹10 lakh, consisting of 1 lakh equity shares at ₹10 per share. Currently, the entity is not operational and has reported no turnover.
The acquisition involves a 100% subscription to the share capital in cash, making Proxima Industries entirely owned by B.C. Power Controls. According to disclosures, this is a related party transaction within the group, conducted at arm’s length. No government or regulatory approvals were required for the acquisition.
The company stated that Proxima Industries’ primary objectives align with its broader business goals in construction and trading. Further updates on operational commencement or future activities are awaited.