Board approves incorporation of three subsidiaries; up to ₹3,00,00,000/- investment in each

Valsang Drivehub Private Limited.

Mon 12 Oct 2026

Number of Subsidiaries Incorporated

3 subsidiary companies

Maximum Investment Approved Per Company

up to ₹3,00,00,000/- (Rupees Three Crores) in each

Shareholding in Each Entity

55% in each

What the board approved

The Board of Directors of the company, in its meeting held on October 12, 2026, approved the "Incorporation" of 3 (Three) Subsidiary Company(ies):

• (i) 'Valsang Drivehub Private Limited'
• (ii) 'Latur Drivehub Private Limited' or 'Latur Waysides Amenities Private Limited'
• (iii) 'Hottalwadi Drivehub Private limited'

The update terms these the "Proposed Companies under Incorporation". The incorporation is subject to approval of the respective names by the Ministry of Corporate Affairs and completion of necessary statutory and regulatory formalities covering the issuance of Certificate of Incorporation(s) by the MCA.

Money committed

The Board approved the investment of up to a maximum of ₹3,00,00,000/- (Rupees Three Crores) in each of the Proposed Companies. This investment is to be made and executed in a phased manner and in different tranches, as may be required from time to time.

Subscription details from Annexure-A

• 'Valsang Drivehub Private Limited': cost of subscription Rs. 30.25 lakh; shareholding 55% (3,02,500 Equity Shares)
• 'Latur Drivehub Private Limited' or 'Latur Waysides Amenities Private Limited': Rs. 44 lakh; shareholding 55% (4,40,000 Equity Shares)
• 'Hottalwadi Drivehub Private limited': Rs. 55,000/-; shareholding 55% (5,500 Equity Shares)

The nature of consideration is cash — subscription to the share capital will be in cash. The country of incorporation is proposed to be India; the date of incorporation is stated as NA, as the entities are yet to be incorporated.

What the new companies will do

• The industry to which the entities belong is Infrastructure.
• The basic area of operations shall be covering the Development, Operations and Maintenance of Wayside Amenities on different sections of National Highway on Lease Basis in Maharashtra.

Group structure

Upon incorporation, each proposed entity will become a Subsidiary of the company and consequently a related party in terms of applicable regulations, with the company holding a majority stake in the said entity.

What happens next

The company shall submit a separate disclosure to the stock exchanges upon "Incorporation" of the respective proposed company and upon the actual investment/subscription being made therein.

How to read this

• This is a board decision to set up new arms of the business in the highway wayside amenity space, with a maximum per-company investment outlay of ₹3,00,00,000/-.
• The subscription amounts stated are for the initial share capital, while the ₹3,00,00,000/- figure is the maximum approved investment per company, to be released in phases and tranches.
• The company will hold 55% in each proposed entity.

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