Board committee approves subscribing to 100% equity of proposed wholly-owned subsidiary

Committee of the Board approved subscribing to 100% equity of a proposed wholly-owned subsidiary, East West Advance Systems Private Limited.

Sat 3 Oct 2026

Initial paid-up capital

Rs. 1,00,000

Subscription price per share

Rs. 10/- per share

Authorised capital

Rs. 5,00,000

Holding acquired

100% equity

Approval date

October 3, 2026

The Committee of the Board of Directors, at its meeting held on October 3, 2026, approved subscribing to the entire equity of a company proposed to be incorporated as East West Advance Systems Private Limited. On incorporation, that entity will become a wholly-owned subsidiary of the Company.

What is being set up

• The new entity is being incorporated to act as a turnkey systems integrator, a technology provider and for other related activities.
• The industry stated for it is Information Technology (IT), Software-as-a-Service (SaaS), Deep-Tech (Artificial Intelligence / Machine Learning / IoT), Electronics Manufacturing & Turnkey Systems Integration.

What is being paid

• The subscription is to the initial paid-up share capital of Rs. 1,00,000 (Rupees One Lakh only), and the consideration is in cash.
• The shares are subscribed at face value of Rs. 10/- per share, which corresponds to 10,000 equity shares.
• The target entity's authorised capital is Rs. 5,00,000, divided into 50,000 equity shares of Rs. 10/- each.
• The holding acquired is a 100% subscription to the share capital of the wholly-owned subsidiary.

Related party position

• The update states that the initial subscription falls under related party transactions upon incorporation, as the target entity will become a wholly-owned subsidiary company.
• It further states that save and except as mentioned above, the promoter / promoter group / group companies are interest in the target entity.

What the update records on process

• Under the head of governmental or regulatory approvals required for the acquisition, the update says Not Applicable.
• Under the indicative time period for completion of the acquisition, the update says Not Applicable.

Since the proposed subsidiary is yet to be incorporated, the update states that turnover/size is not applicable as the entity is a newly incorporated company, and that background details such as date of incorporation, history of last 3 years turnover and country of presence are not applicable.

How to read this

• This is an intimation at the proposal stage. The entity is yet to come into existence, and the amount committed at this stage is the initial paid-up share capital of Rs. 1,00,000, which is a cash outflow.
• The proposed subsidiary's stated activities are in IT, SaaS, deep-tech and turnkey systems integration, and the update describes the company as being set up as a systems integrator and technology provider.
• The subsidiary will be wholly owned, so the entire shareholding of the new entity sits with the Company.

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