Board of Pricol approves incorporation of subsidiary in India

The Board of Pricol through circular resolution approved the proposal of incorporation of wholly owned subsidiary (WOS) company in India under the name Pricol Electronics or such other name as approved by the Ministry of Corporate Affairs, by Pricol Asia (a wholly owned subsidiary of Pricol).

Pricol Asia proposes to infuse around Rs 25 crores as share capital in the aforesaid WOS in India, which will engage in the business of manufacturing and/or distribution of electronic components catering to automotive as well as non-automotive applications.

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