Lakshmi Machine Works has received in-principal approval for incorporation of a Wholly Owned Subsidiary company in the United Arab Emirates for an investment amount not exceeding $25 million. The name of the subsidiary and the actual amount to be invested in the proposed wholly owned subsidiary will be determined in due course subject to the aforementioned limit.
The Board of Directors of the Company at their meeting held on May 27, 2024 have, inter alia, approved the same.
Lakshmi Machine Works is engaged in the manufacturing and selling of textile spinning machinery, CNC Machine Tools, Heavy castings and parts and components for Aero space industry.
