Jindal Poly Films forms Universus Commercial Properties as wholly-owned subsidiary; Stock surges 2%

17 Aug 2022 , 02:13 PM

Jindal Poly Films Limited has made investment into Equity Shares of Universus Commercial Properties Limited (“UCPL”) on its incorporation. Consequently, the Company now holds 100% of the total paid up Equity Share capital of UCPL.

On August 06, 2022, JPFL has invested Rs5,00,000 by subscribing 50,000 equity Shares of Rs. 10/- each at par in the Share Capital of UCPL. Total paid up Equity Share Capital of UCPL as on date is Rs5,00,000 (Rupees Five Lakh Only). UCPL has yet to start the commercial operations, the company said.

As per the filing, object of the proposed investment is to gain from the profitable real estate opportunities by UCPL.

At around 2:11 PM, Jindal Poly Films Ltd was trading at Rs1,051.15 per share up by Rs23.15 or 2.25% from its previous closing of Rs1,028 per share on the BSE.