EFC (I) Limited has announced the incorporation of a new joint venture company, Forty Two Ventures Limited, in collaboration with Pepperfry Limited. This development was disclosed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The newly incorporated company has an authorized share capital of Rs. 25 lakh, divided into 2.5 lakh equity shares of Rs. 10 each, with an initial paid-up share capital of Rs. 10 lakh, divided into 1 lakh equity shares of Rs. 10 each. EFC (I) Limited holds a 50% stake in the joint venture, amounting to 50,000 equity shares worth Rs. 5 lakh.
Forty Two Ventures Limited is set to operate in the logistics and supply chain management sector, with a specific focus on furniture studios, experience centers, and retail showrooms. The joint venture aligns with EFC’s existing business operations and aims to leverage its expertise to enhance its presence in this sector.
The company has confirmed that there are no related party transactions involved, and the acquisition was made at arm’s length pricing. As Forty Two Ventures Limited has been incorporated on March 4, 2025, it is yet to commence business operations.
EFC (I) Limited stated that no governmental or regulatory approvals were required for the joint venture’s formation, and its subscription was made entirely in cash.
This strategic partnership is expected to strengthen EFC (I) Limited’s position in the logistics and retail management sector, further expanding its business capabilities.
