Investment will be made through cash subscription, says Fabtech
Fabtech Technologies Cleanrooms Limited (BSE: 544332 | Market Capitalisation: Rs.418.74 crore), is incorporating a wholly-owned subsidiary in the United Arab Emirates (UAE) to focus on opportunities under the UAE–India trade framework.
The subsidiary will be a related party transaction; however, the promoters and promoter group have no interest in the subsidiary beyond its incorporation.
Fabtech Technologies Cleanrooms-FZE, will have an authorised and paid-up capital not exceeding AED 1,00,000. Fabtech Technologies Cleanrooms Limited will hold 100% of the paid-up share capital of the subsidiary.
The entire investment will be made through cash subscription to the share capital at face value per share.
It will be manufacturing partitions, primarily for supply to group entities including Fabtech Technologies Limited and Fabtech Technologies Cleanrooms Limited (India), as well as to Indian clients. Fiinews.com
