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Service Industries allows its subsidiary to invest Rs100mn in Jomo Technologies

Service Industries allows its subsidiary to invest Rs100mn in Jomo Technologies
Service Industries allows its subsidiary to invest Rs100mn in Jomo Technologies
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June 10, 2022 (MLN): The board of directors of Service Industries Limited (SRVI) has allowed its wholly-owned subsidiary Service Industries Capital Pvt Limited (SICL) to invest the funds amounting to Rs100 million to be provided by SRVI, in Jomo Technologies Pvt Limited.

In a notice to exchange, the company said that the funds to be provided by SRVI to its wholly-owned subsidiary SICL as long-term equity investment amounting to Rs100 Million shall be applied by SICL towards investment in its associated company, Jomo Technologies (Private) Limited.

The investment will be made by way of a working capital loan facility with or without any conversion option instead of making investments in securities, listed or otherwise, of associated or other companies, the notice said.

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Posted on: 2022-06-10T16:03:01+05:00

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