IMINDO-MIM544837Subsidiary or JV

Board approves Vietnam wholly owned subsidiary with Rs. 45 crore investment, re-appoints 3 independent directors

INDO-MIM Ltd's board approved incorporating a wholly owned subsidiary in Vietnam, a single member LLC 100% owned by the company, for manufacturing, assembly, sale and export of electronics, prototype and other engineering components.

By ScoutQuest · Wed 14 Oct 2026, 7:22 PM IST · 2 min read

Overall Investment

Rs. 45 Crores, to be invested over a period of Five (05) years

Ownership

100% owned, single member LLC, INDO-MIM Limited to hold 100% control and ownership

Proposed Incorporation Date

01 December, 2026 (Tentative)

New subsidiary in Vietnam

• The Board of Directors, at its meeting on Wednesday, October 14, 2026, approved the incorporation of a Wholly Owned Subsidiary in Vietnam.
• The entity will be a single member LLC, and INDO-MIM Limited will hold 100% of its control and ownership and be its holding company.
• Industry: Manufacturing. The proposed entity is intended to manufacture, assemble, sell and export electronics, prototype and other engineering components.
• The name would be as approved by the Business Registration office of Vietnam. Proposed date of incorporation is 01 December, 2026 (Tentative), shown as proposed to be incorporated.
• Consideration: 100% of the initial subscription is to be infused by INDO-MIM Limited as cash consideration. There will be no issue of shares by the Vietnam entity.
• Overall investment: Rs. 45 Crores, to be invested over a period of Five (05) years.
• Approvals required: from the Business Registration office, Vietnam, and from the Reserve Bank of India for Overseas Direct Investment (ODI) in Vietnam.

Directors re-appointed

The Board approved the re-appointment of three Non-Executive Independent Directors, each for a further period of 5 (Five) years, with effect from March 30, 2027 to March 29, 2032 (both days inclusive), subject to approval of the members through Postal Ballot:

• Mrs. Rajni Anil Mishra, associated with the Company as a Director since March 30, 2024, with over 38 years of experience in banking and finance.
• Mrs. Meera Shankar, associated with the Company as a Director since March 30, 2024, with over 38 years of experience in diplomatic relations.
• Mrs. Sujitha Karnad, associated with the Company as a Director since March 30, 2024, with over 18 years of experience across the business administration and technology sector.

None of the three is related inter-se to any director of the Company, and each is not debarred from holding the Office of a Director by virtue of any SEBI order or such other authority.

Other Board decisions

• The Board approved the Notice of Postal Ballot to seek the necessary approval of the members; the Notice shall be submitted to the Stock Exchanges in due course.
• The Board approved a revision in the Insider Trading Policy in compliance with the applicable provisions of the SEBI (Prohibition of Insider Trading) Regulations, 2015.
• The Board meeting commenced at 5:30 P.M. (IST) and concluded at 06:50 P.M. (IST).

What this means for readers

• The Vietnam step is an overseas manufacturing plan with money to go in over a five-year period, and the entity is proposed to be incorporated.
• The director re-appointments are of existing directors for another term, and they will take effect only on receipt of members' approval through the postal ballot.

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