USD 3 million capital infusion into wholly owned Cyprus subsidiary CUMI International
The company infused USD 3 million (approximately Rs. 28.78 crore) into CUMI International Limited, Cyprus, its wholly owned subsidiary, via equity subscription.
- Capital Infusion Amount
- USD 3 million (approximately Rs. 28.78 crore)
- Recipient Entity
- CUMI International Limited, Cyprus (wholly owned subsidiary)
- Purpose
- Support funding requirements linked to proposed closure of CUMI Awuko Abrasives GmbH, German subsidiary
- CIL Paid-up Equity After Infusion
- USD 44.24 million (from USD 43.64 million)
- Shareholding Status
- 100% held before and after infusion
What happened
The Company infused USD 3 million (approximately Rs. 28.78 crore) into CUMI International Limited (CIL), Cyprus, a wholly owned subsidiary, by way of subscription to its equity share capital. Consideration is in cash.
Purpose
- To support CIL's funding requirements in connection with the proposed closure of its wholly owned subsidiary in Germany, CUMI Awuko Abrasives GmbH.
Capital position of CIL
- Registered equity capital: USD 50 million
- Paid-up equity before infusion: USD 43.64 million
- Paid-up equity after infusion: USD 44.24 million
- Shareholding remains 100% before and after.
About CIL
Incorporated in Cyprus on 7th June 2007, CIL holds investments in the Company's overseas subsidiaries. Turnover: 31.12.2023 – USD 4.89 million; 31.12.2024 – USD 4.38 million; 31.12.2025 – USD 0.50 million.
Other points
- Being a transaction with a wholly owned subsidiary, it is a related party transaction; the investment is made at fair value as per overseas investment pricing rules, supported by a valuation report.
- No promoter or group company has interest in the entity other than through their shareholding in the Company.
- No governmental or regulatory approvals stated as applicable.
Investors may read this as funding for the winding down of the German abrasives operation rather than fresh capacity investment.
More numbers
- Capital infusion (USD)USD 3 million
- Capital infusion (INR)approximately Rs. 28.78 crore
- Registered equity capital of CILUSD 50 million
- Paid up equity before infusionUSD 43.64 million
- Paid up equity after infusionUSD 44.24 million
- CIL turnover FY ended 31.12.2023USD 4.89 million
- CIL turnover FY ended 31.12.2024USD 4.38 million
- CIL turnover FY ended 31.12.2025USD 0.50 million
- Shareholding in CIL after infusion100%
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.