Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Pricol has informed that the Board of Directors through circular resolution approved the proposal of incorporation of wholly owned subsidiary (WOS) company in India under the name ‘Pricol Electronics Private Limited’ or such other name as approved by the Ministry of Corporate Affairs, by Pricol Asia (a wholly owned subsidiary of Pricol). Pricol Asia proposes to infuse around INR 25 crores as share capital in the aforesaid WOS in India, which will engage in the business of manufacturing and/or distribution of electronic components catering to automotive as well as non-automotive applications.
The above information is a part of company’s filings submitted to BSE.
