Kirloskar Oil Engines Limited (KOEL) has successfully incorporated ‘Kirloskar Advanced Systems Private Limited’ (KASPL) as a Wholly Owned Subsidiary, effective March 30, 2026. KASPL is established with a focus on engineering, industrial equipment, defense, and railways. KOEL will invest INR 9.00 Crore for a 100% equity stake to fund KASPL’s initial operations.
Formation of Wholly Owned Subsidiary
Kirloskar Oil Engines Limited announced the successful incorporation of a new entity, ‘Kirloskar Advanced Systems Private Limited’ (KASPL), which will operate as a Wholly Owned Subsidiary. The certificate of incorporation was issued on March 30, 2026, granting KASPL the Corporate Identification Number U28299PN2026PTC253954.
Business Focus and Operations
KASPL is set up to be engaged in various engineering and industrial business segments. This includes specialized activities related to defence and railways. The subsidiary’s mandate covers the design, development, manufacture, supply, import, and export of diverse industrial equipment. This scope includes, but is not limited to, engines, power generating sets, motors, platforms, and integrated systems, along with providing Annual Maintenance Contract (AMC) services.
Investment and Shareholding Details
The parent company, Kirloskar Oil Engines Limited, will subscribe to the initial paid-up share capital of KASPL entirely through cash consideration. The investment details are as follows:
- Shares Subscribed: 90,00,000 (ninety lakh) equity shares.
- Face Value: INR 10/- per share (subscribed at par).
- Total Investment Cost: Aggregating to INR 9,00,00,000/- (Indian Rupees Nine Crore only).
- Control: The Holding Company will subscribe to 100% (one hundred percent) of the initial paid-up share capital.
Regulatory Approvals
While the incorporation itself has been approved by the Ministry of Corporate Affairs, the document notes that KASPL may require additional applicable licenses and approvals from relevant regulatory authorities as it commences business activities, particularly related to manufacturing and supply for the defence sector.
Source: BSE
