SKIPPER LIMITED has announced the incorporation of its wholly-owned subsidiary in Brazil, SKIPPER LATAM LTDA. The initial investment approved was up to USD 20,000, with the share capital set at BRL 1,00,000/-. Due to foreign exchange rate fluctuations, the actual amount received is BRL 1,01,144.76, revising the subsidiary’s share capital accordingly. This information has been placed on the company’s website.
SKIPPER Incorporates Wholly-Owned Subsidiary in Brazil
SKIPPER LIMITED has provided an update regarding its newly incorporated wholly-owned subsidiary (WOS) in Brazil, named SKIPPER LATAM LTDA. This announcement follows the company’s prior letter and is in compliance with SEBI Listing Regulations and circulars. The incorporation was approved at a Board Meeting held on 31st July, 2025, with an initial investment limit of up to USD 20,000.
Capitalization and Exchange Rate Impact
Initially, the share capital of SKIPPER LATAM LTDA was intimated to be BRL 1,00,000/-. The company has since remitted USD 19,560 towards this investment, which falls within the approved limit. However, due to foreign exchange rate fluctuations, the subsidiary in Brazil received an actual amount of BRL 1,01,144.76. This results in an excess of BRL 1,144.76 over the initially stated share capital. Consequently, the revised share capital of SKIPPER LATAM LTDA now stands at BRL 1,01,144.76.
This information has been made available on the company’s official website at https://www.skipperlimited.com.
Source: BSE
