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Texmaco Infrastructure & Holdings Limited has invested INR 68.8 million in its wholly owned subsidiary, Valley View Landholdings Pvt. Ltd., to strengthen the subsidiary's presence in the real estate sector. The investment was made through a fresh subscription to equity shares, while the company's ownership in the subsidiary remains unchanged at 100%. The transaction has been classified as a related-party deal and was carried out on an arm's-length basis. Valley View Landholdings, incorporated in 2013, is engaged in real estate development and has reported limited revenue in recent financial years.
Texmaco Infrastructure & Holdings Limited has invested INR 68.8 million in its wholly owned subsidiary, Valley View Landholdings Pvt. Ltd. (VVLPL), as part of its plans to support the subsidiary's expansion in the real estate business. The company disclosed the investment through a regulatory filing.
The investment was made by subscribing to 917,000 equity shares of VVLPL having a face value of INR 10 each at a premium of INR 65 per share. Since Valley View Landholdings is a wholly owned subsidiary, Texmaco Infrastructure's shareholding in the company continues to remain at 100% even after the latest capital infusion.
The company stated that the transaction falls under the category of a related-party transaction because of the existing parent-subsidiary relationship. However, it clarified that the investment was carried out on an arm's-length basis in accordance with applicable regulatory requirements. No additional regulatory or government approvals were required for the transaction.
Valley View Landholdings, incorporated in 2013, operates in the real estate sector. The subsidiary has reported limited operational income over the past few financial years, indicating that it remains in the development stage with project-focused activities. The latest investment is expected to strengthen its capital base and support future business operations.
Texmaco Infrastructure & Holdings has interests across real estate, mini hydro power, trading and related businesses. The company has continued to use its subsidiary structure for undertaking real estate development activities, with Valley View Landholdings being one of its key wholly owned entities in this segment.
Source Reuters
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