Funds remitted for initial share capital of new wholly owned subsidiary in Saudi Arabia
The company has remitted USD26630, equivalent to SAR 1,00,000 (approx.
- Investment Amount
- USD26630, equivalent to SAR 1,00,000 (approx. ₹25,53,817.00 at ₹95.90/USD)
- Shareholding Acquired
- 100% via 100 shares of SAR 1000 each
- Subsidiary Name
- Amir Chand Trading Company
- Market Entry Location
- Kingdom of Saudi Arabia
- Business Activity
- Trading and distribution of Rice and FMCG products, including import and export
What happened
The company remitted USD26630, equivalent to SAR 1,00,000 (approx. ₹25,53,817.00 at the rate of ₹95.90/USD), towards initial subscription to the share capital of Amir Chand Trading Company, its wholly owned subsidiary in Saudi Arabia, to enable it to commence business operations. Completed on 24 September 2026.
Deal details
- Cost of acquisition: SAR 1,00,000 (100 shares of SAR 1000 each)
- Shareholding/control acquired: 100%
- Consideration: cash, by way of subscription to equity share capital
- Approvals: Commercial Registration and Investment Registration Certificate in Saudi Arabia, and compliance with RBI's Foreign Exchange Management (Overseas Investment) Directions, 2022
About the subsidiary
Incorporated in the Kingdom of Saudi Arabia to carry out trading and distribution of Rice and Fast-Moving Consumer Goods, including import, export and related commercial activities in the Saudi Arabian market. It is a newly formed entity with Nil turnover as it has not commenced operations.
Related party aspect
The transaction falls within related party transactions as it is a wholly owned subsidiary. The promoter/promoter group have no interest other than through the Company.
How to read it
The stated object is to establish the Company's direct presence in the Saudi market. The amount remitted is small in absolute terms, and the subsidiary has yet to begin operations, so any revenue contribution would depend on how the Saudi business develops.
Also from Amir Chand Jagdish Kumar (Exports)
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12 Oct 2026
More numbers
- Amount remitted (USD)USD26630
- Amount remitted (SAR)SAR 1,00,000
- Approx. rupee value of remittance₹25,53,817.00
- Exchange rate used₹95.90/USD
- Shares subscribed100 shares of SAR 1000 each
- Shareholding acquired100%
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