Board approves incorporation of a wholly owned subsidiary in USA for scrap trading
Gravita India's board, at its meeting held on October 05, 2026, considered and approved the incorporation of a Wholly Owned Subsidiary in the United States of America (USA).
- Initial Capital
- USD 50,000
- Nature of Consideration
- 100% subscription to the initial capital in cash
- Shareholding / Control by Listed Entity
- 100%
- Industry
- Trading
- Line of Business
- trading of scrap and scrap materials
What the board approved
The Board of Directors of the company, at its meeting held on October 05, 2026, considered and approved the incorporation of a Wholly Owned Subsidiary in the United States of America (USA).
Details of the proposed entity
- Name: The Company shall be incorporated in the name of Gravita Recyclers USA Inc. or such other name as may be approved as per laws of USA
- Country of incorporation: United States of America (USA)
- Date of incorporation: Not Applicable (To be incorporated)
- Industry: Trading
- Line of business: The proposed company will be engaged in the trading of scrap and scrap materials
- Relation with the listed entity: The company is being incorporated as a Wholly Owned Subsidiary of Gravita India Limited
Money and ownership
- Nature of consideration: 100% subscription to the initial capital in cash
- Initial Capital: USD 50,000
- Shareholding / control by the listed entity: 100%
- Governmental or regulatory approvals required for the incorporation: Not Applicable
How to read this
The decision is for the setting up of a new overseas entity; the date of incorporation is stated as Not Applicable (To be incorporated), so the entity is yet to come into existence. The stated activity of the proposed company is trading of scrap and scrap materials, and the initial capital being subscribed is USD 50,000, fully in cash.
Also from Gravita India
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Board approves incorporation of a wholly owned subsidiary in the USA
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More numbers
- Initial capital of the proposed subsidiaryUSD 50,000
- Subscription to initial capital in cash100%
- Shareholding / control by the listed entity100%
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