Manorama Industries Limited’s Board of Directors has approved the incorporation of a Wholly Owned Subsidiary (WOS) in Chad. The meeting, held on July 9, 2026, also reviewed and approved various other business matters. The WOS will focus on the buying, processing, and selling of shea nuts and butter. This strategic move aims to expand the company’s global footprint and operational capabilities in key international markets, aligning with its growth objectives.
Manorama Industries Board Approves Strategic Expansion
Manorama Industries Limited announced today, July 9, 2026, that its Board of Directors has given the green light for the incorporation of a new Wholly Owned Subsidiary (WOS) in the country of Chad. This significant decision was made during a Board meeting held on the same date, which commenced at 9:30 p.m. IST and concluded at 10:05 p.m. IST.
Details of the New Subsidiary
The proposed subsidiary in Chad will operate under the name Manorama Savannah Agro Chad SARL, subject to regulatory approvals. Its primary business objectives will encompass the buying, processing, and selling of shea nuts, shea butter, and other related materials. The company’s Authorized Capital is set at CFA 1,00,00,000, with a Paid-up Capital of CFA 1,00,00,000. The transaction is considered to be at an arm’s length basis.
Strategic Rationale and Investment
The incorporation of this WOS is a strategic initiative designed to enhance Manorama Industries’ global presence and operational efficiency. The investment in the new entity will be in the form of cash, with 100% subscription to the initial paid-up capital. Further investments may be made in one or more tranches as per business requirements. The total cost of acquisition is estimated at CFA 1,00,00,000.
Related Party Transactions and Promoter Interest
The proposed subsidiary will be a wholly owned subsidiary of Manorama Industries Limited, making it a related party company post-incorporation. The announcement clarifies that save for the above, the Promoter/Promoter Group and promoter group companies have no interest in this transaction.
Future Outlook and Operations
The incorporation of the wholly owned subsidiary in Chad will be conducted in accordance with the laws applicable in that country. Manorama Industries Limited has confirmed that all necessary governmental or regulatory approvals for this acquisition will be sought. The company anticipates that this expansion will contribute positively to its future growth and market position in the global shea products industry.
Source: BSE
