INDO-MIM544837Subsidiary or JV
Board approves Vietnam wholly owned subsidiary and re-appointment of 3 independent directors
Board approves incorporation of a Wholly Owned Subsidiary in Vietnam.
By ScoutQuest · · 2 min read
100%Control and ownership to be held by INDO-MIM in Vietnam entity
- Overall Investment
- Rs. 45 Crores, to be invested over Five (05) years
- Ownership in Vietnam Subsidiary
- 100% of control and ownership; 100% of the initial subscription infused
- Tentative Date of Incorporation
- 01 December, 2026
Board approves Vietnam subsidiary and three director re-appointments
The Board of Directors met on Wednesday, October 14, 2026, from 5:30 P.M. (IST) to 06:50 P.M. (IST) and approved several matters.
Independent directors re-appointed
- Three Non-Executive Independent Directors are to be re-appointed for a further period of 5 (Five) years, from March 30, 2027 to March 29, 2032 (both days inclusive).
- The three are Mrs. Rajni Anil Mishra, Mrs. Meera Shankar and Mrs. Sujitha Karnad.
- All three have been associated with the Company as directors since March 30, 2024.
- The re-appointments are subject to approval of the members of the Company through Postal Ballot.
Their backgrounds as set out in the update
- Mrs. Rajni Anil Mishra: over 38 years of experience in banking and finance; previously associated with the State Bank of India for a period of 37 years.
- Mrs. Meera Shankar: over 38 years of experience in diplomatic relations; also associated with the Indian Foreign Services.
- Mrs. Sujitha Karnad: over 18 years of experience across business administration and technology sector.
- Each is stated to be not related inter-se to any director of the Company, and not debarred from holding the office of a Director by virtue of any SEBI order or such other authority.
New Vietnam subsidiary
- The Board approved the incorporation of a Wholly Owned Subsidiary in Vietnam.
- The entity will be a single member LLC; there will be no issue of shares by the Vietnam entity.
- INDO-MIM Limited will be the holding company and will hold 100% of control and ownership of the subsidiary.
- Cash consideration: 100% of the initial subscription to be infused by INDO-MIM Limited.
- Overall Investment Rs. 45 Crores, to be invested over a period of Five (05) years.
- Industry: Manufacturing. The proposed entity is intended to manufacture, assembly, sale and export of electronics, prototype and other engineering components.
- Approvals required: Business Registration office, Vietnam and Reserve Bank of India for Overseas Direct Investment (ODI) in Vietnam.
- Tentative date of incorporation: 01 December, 2026, and the entity is proposed to be incorporated.
Other decisions
- Insider Trading Policy revised in compliance with the applicable provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015; the policy will be available on the Company's website.
- The Board approved the Notice of Postal Ballot to seek the necessary approval of the members; it will be submitted to the stock exchanges in due course.
What to note
- The director re-appointments take effect from March 30, 2027 and are subject to member approval through Postal Ballot.
- The Vietnam entity is proposed to be incorporated, with the date marked tentative, and the Rs. 45 Crores investment is to be spread over Five (05) years.
Also from INDO-MIM
Board approves Vietnam wholly owned subsidiary with Rs. 45 crore investment, re-appoints 3 independent directors
14 Oct 2026
MCA master data updated: CIN changed to L-series, listing status revised from No to Yes
6 Oct 2026
More numbers
- Overall investment in Vietnam subsidiaryRs. 45 Crores
- Term of re-appointment of independent directors5 (Five) years
- Period over which Vietnam investment is to be madeFive (05) years
- Control and ownership to be held by INDO-MIM in Vietnam entity100%
- Initial subscription to Vietnam entity infused by INDO-MIM100%
- Mrs. Rajni Anil Mishra - experience in banking and finance38 years
- Mrs. Meera Shankar - experience in diplomatic relations38 years
- Mrs. Sujitha Karnad - experience in business administration and technology18 years
Source: BSE · 14 Oct 2026
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