Spice Mobility incorporates its subsidiary S Mobility (HK)

Spice Mobility has incorporated its subsidiary in the name ‘S Mobility (HK)’ with effect from May 12, 2011 in Hong Kong. The board of directors at its meeting held on May 30, 2011 has transacted the above.

Recently in April, in view of the internal restructuring, Spice Mobility had sold its investment in Spice Distribution Fund, a 100% subsidiary of the company to Hindustan Retail another 100% subsidiary of the company. Spice Mobility had sold 3,58,18,763 equity shares of face value of Rs 10 each to Hindustan Retail. Consequent to sale of the shares, Spice Distribution had now become subsidiary of Hindustan Retail.

Spice Mobility is engaged in manufacturing of mobile phones. The company offers a wide range of mobile handsets catering to all segments - low, medium, high-end.