Digjam has decided to incorporate a subsidiary company and invest up to Rs 5 lakh in the equity shares of the said subsidiary company. The board of directors at their meeting held on May 30, 2015 has approved for the same.
The said company would initially be engaged in trading in all kinds of textiles including yarn and fabrics and may also take up manufacturing in due course. A committee of the board of directors has been constituted to finalize the details and guide the implementation.
Digjam is primarily engaged in manufacturing worsted fabrics at its sole manufacturing facility in Jamnagar, Gujarat. It sells its fabric under the ‘Digjam’ brand through its established marketing network spread across India.