Mirza International Limited, an Indian footwear manufacturer and marketer, has incorporated a wholly owned subsidiary, Mirza Global Limited, to undertake footwear manufacturing, retail, wholesale marketing and e-commerce operations.
According to a stock exchange filing under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Mirza Global Limited has an authorised share capital of Rs 15 lakh. Mirza International subscribed to 100 per cent of the subsidiary’s initial share capital in cash.
The subsidiary is yet to commence business operations, and its turnover is therefore not applicable at this stage. No governmental or regulatory approvals were required for the incorporation.
The new entity will focus on the footwear business, covering manufacturing, retail, wholesale marketing and e-commerce distribution. As a wholly owned subsidiary, Mirza Global Limited will remain fully owned by Mirza International Limited and is classified as a related party.
