Xelpmoc Design completes incorporation of wholly-owned subsidiary in UK

14 Feb 2022 , 12:05 PM

Xelpmoc Design & Tech Ltd has informed to the exchanges in relation to proposal of incorporation of new wholly owned subsidiary in United Kingdom. The Company completes incorpoation of Xelpmoc Design and  Tech UK Ltd as wholly owned subsidiary.

XELPMO DESIGN AND TECH LTD incorporated under the UK Companies Act, 2006 and the paid-up Share Capital is £100 (Euro) – (100 Ordinary Shares of £ 1 (Euro) each)

Further, the wholly-owned subsidiary is engaged in information technology segment. In order to promote the business of the company at global level, the company has incorporated wholly-owned subsidiary in UK.

The Company will comply the related provision of FEMA in respect of ODI filling with RBI and ane will also comply the related provision of UK law in respect of incorporation, except this no governmental or prior regulatory approvals are required for the proposed acquisition, said company in a filing.

At around 12:06 PM, Xelpmoc Design was trading at Rs326.60 per piece down by 2.22% on the BSE.