Bhageria Industries Limited announced the incorporation of a wholly owned subsidiary named New Ahilyanagar Solar Private Limited on November 20, 2024. According to a company press release, the move aligns with its broader strategy to expand its business operations.
The newly established entity has an authorized share capital of ₹1,00,000. The entire shareholding of the subsidiary will be controlled by Bhageria Industries through a 100% cash subscription to its share capital. New Ahilyanagar Solar Private Limited has not yet commenced operations and, therefore, has no turnover to report at this stage.
The primary purpose of the subsidiary is to hold investments in various entities, which is expected to support Bhageria Industries’ strategic objectives. The company confirmed that transactions with the subsidiary, if any, will occur on an arm’s-length basis.
Further developments and regulatory approvals, if required, will be pursued as the business activities of the subsidiary commence.