KEC International Ltd., a global infrastructure engineering, procurement, and construction (EPC) major, has announced the incorporation of a new subsidiary, KEC Asian Cables Limited. The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, through a letter addressed to the National Stock Exchange of India Limited and BSE Limited.
KEC Asian Cables Limited, with an authorized capital of Rs. 10 crore and a subscribed capital of Rs. 10 lakh, will focus on manufacturing various types of cables, including power cables, solar cables, aluminium conductors, and fibre optic cables. The subscribed capital has been allocated with KEC International Limited, along with five nominees, holding Rs. 9.5 lakh, and KEC Power India Private Limited, a wholly-owned subsidiary of KEC International Limited, holding Rs. 50,000.
This new entity is established as a related party to KEC International and will serve as a vehicle to facilitate the proposed subsidiarization of the company’s cable business. The company had earlier communicated this strategic move on July 26, 2024.
KEC Asian Cables Limited is incorporated as a public company under the Companies Act, 2013, with its registered office in Maharashtra. Currently, the company has yet to commence business operations, hence there is no turnover reported for the past three years.
