V-Guard Industries approves incorporation of new subsidiary

The proposed WOS shall be engaged in the establishment and carrying on the business of manufacturing, selling, and dealing in various consumer electricals.

Jul 05, 2021 12:07 IST India Infoline News Service

V-Guard Industries Limited informed the exchanges Friday that the Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) of the company.

The proposed WOS shall be engaged in the establishment and carrying on the business of manufacturing, selling, and dealing in otherwise of various consumer electrical, electronics, electromechanical products and home and kitchen appliances of all kinds both electrical and non-electrical and such other allied products.

“Incorporation of the entity is subject to the approval of the MCA and such other statutory authorities. Securities shall be subscribed for cash,” the company said in a filing on Friday.

At around 12.19 PM, V-Guard Industries Ltd was trading at Rs264.40 per piece down by Rs0.5 or 0.19% from its previous closing of Rs264.90 per piece on the BSE.

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