Bajaj Steel Industries Limited has announced the incorporation of two wholly owned subsidiaries, Bajaj Continental LTDA and Bajaj Services LTDA, in Campinas, State of São Paulo, Brazil, effective February 13, 2025. The move is aimed at expanding the company’s business footprint in South America and other global markets.
Key Details of the Subsidiaries
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Bajaj Continental LTDA
- Share Capital: 60,000 Brazilian Reias
- Business Focus: Trading and services related to cotton ginning processing machineries, prefabricated steel buildings, electrical panels, heavy engineering, hydraulic products, fire-fighting systems, and other industrial products.
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Bajaj Services LTDA
- Share Capital: 5,000 Brazilian Reias
- Business Focus: Similar industrial operations and services.
Since both entities have been newly incorporated, their turnover and financials are not applicable yet.
According to the company, these subsidiaries will help strengthen Bajaj Steel Industries’ global presence by facilitating business expansion in South America. The company has 100% ownership in both subsidiaries, ensuring complete control over operations.
The incorporation was completed through the National Registration of Legal Entities, Federative Republic of Brazil, and was funded through cash subscription by Bajaj Steel Industries.
The incorporation aligns with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. The company has stated that no promoter or group companies have a direct interest in these subsidiaries.
With this strategic expansion, Bajaj Steel Industries aims to strengthen its market reach and enhance its industrial offerings in the South American region, further solidifying its global standing in the multi-engineering products sector.
