Skipper538562Subsidiary or JV
Brazil subsidiary receives USD 19,560; share capital revised to BRL 1,01,144.76 on forex movement
Skipper Ltd has remitted USD 19,560 into its Brazil wholly owned subsidiary SKIPPER LATAM LTDA, within the USD 20,000 limit approved by the Board on 31st July, 2025.
By ScoutQuest · · 1 min read
BRL 1,01,144.76Amount actually received by the WOS in Brazil
Share capital of the WOS intimated to exchangesBRL 1,00,000/-
Excess over the share capital initially intimatedBRL 1,144.76
- Amount Remitted
- USD 19,560
- Board-Approved Limit
- USD 20,000 approved by the Board on 31st July, 2025
- Revised Share Capital
- BRL 1,01,144.76 (BRL 1,144.76 more than BRL 1,00,000 earlier intimated)
What the company told the exchanges
- Skipper Ltd has given an update on SKIPPER LATAM LTDA, its wholly owned subsidiary incorporated in Brazil.
- The Board, at its meeting held on 31st July, 2025, had approved an investment of up to USD 20,000 for setting up this subsidiary.
Money actually sent
- The company has remitted USD 19,560 towards this investment, which is within the approved limit.
- It had earlier intimated to the exchanges that the subsidiary's share capital would be BRL 1,00,000.
Why the number changed
- Owing to foreign exchange rate fluctuations, the amount actually received by the subsidiary in Brazil is BRL 1,01,144.76.
- That is an excess of BRL 1,144.76 over the share capital first intimated.
- Accordingly, the revised share capital of the subsidiary stands at BRL 1,01,144.76.
How to read this
- This is a follow-up update to the company's earlier letter about the incorporation of the Brazil subsidiary; it records the money moved and the final share capital figure.
- The gap between the planned and actual share capital is described by the company as a result of currency movement, not a change in the investment approved by the Board.
- The company has said the information is also being placed on its website.
Also from Skipper
Board meeting on 30 October 2026 to consider September quarter results
24 Oct 2026
Crisil A+/Stable and Crisil A1 reaffirmed on Skipper Ltd bank facilities; long-term limit enhanced to Rs.5106 crore
16 Oct 2026
R. N. Nayak, former PGCIL CMD, appointed Non-Executive Independent Director
12 Oct 2026
More numbers
- Investment approved by the Board for the Brazil WOSUSD 20,000
- Amount remitted by the company towards the investmentUSD 19,560
- Share capital of the WOS earlier intimated to exchangesBRL 1,00,000/-
- Amount actually received by the WOS in BrazilBRL 1,01,144.76
- Excess over the share capital initially intimatedBRL 1,144.76
- Revised share capital of the WOSBRL 1,01,144.76
Source: BSE · 23 Oct 2026
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.