Blue Star incorporates new subsidiary 'Blue Star Climatech'

The company has subscribed to 30 lakh equity shares of Rs10 each aggregating to Rs3cr.

May 19, 2021 12:05 IST India Infoline News Service

Blue Star Limited has incorporated a wholly-owned subsidiary company named "Blue Star Climatech Limited" on Tuesday. The company has subscribed to 30 lakh equity shares of Rs10 each aggregating to Rs3cr.

Blue Star Climatech belongs to manufacturing and dealing in all kinds of residential and commercial air conditioners, refrigerators, cooling appliances and other related electrical machinery.

“The Wholly Owned Subsidiary is incorporated to carry on the business as manufacturers and dealers in all kinds of residential and commercial air conditioners, refrigerators, cooling appliances and other related electrical machinery. The business of Wholly owned subsidiary is in line with the main line of business of the Company,” the company said in a regulatory filing on Tuesday.

At around 12.22 PM, Blue Star Ltd was trading at Rs810.25 down Rs1.40 or 0.17% from its previous closing of Rs811.65 per piece on the BSE.

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