India : Soma Textiles dilutes stake in its UAE subsidiary

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Home / Knowledge / News / Textiles / Soma Textiles dilutes stake in its UAE subsidiary

Soma Textiles dilutes stake in its UAE subsidiary

06
May '10

Soma Textiles & Industries Ltd has informed that Soma Textile FZC, Sharjah, U.A.E. (formerly Soma Textile FZE, Sharjah, U.A.E.) has ceased to be an overseas wholly owned subsidiary of Soma Textiles & Industries Ltd., India with effect from March 31, 2010 upon dilution of its holding to 40% from 100% in the Paid-up Capital of the overseas subsidiary due to increase in paid up capital of the subsidiary from AED 3,00,000 to AED 7,50,000 by further issue of shares, to which the Company had not subscribed to.

We, Soma Textiles & Industries Limited, are a US$40 Million Textile company with integrated manufacturing facilities for all our Product groups. We are 36 year old company head-quartered in Ahmedabad, India having factories in Ahmedabad and Baramati.

Soma Textiles & Industries Ltd

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