Manorama Industries Limited announced the approval of an increase in share capital for three of its wholly-owned subsidiaries: Manorama Africa Benin, Manorama Savanna Togo Sarl, and Manorama Africa Savanna. Each subsidiary will receive an infusion of up to ₹10 crore, totaling ₹30 crore. These funds are designated for working capital requirements, general corporate purposes, and meeting operational needs.
Manorama Industries Boosts Subsidiary Capitalization
Manorama Industries Limited’s Board of Directors has approved a significant capital infusion into three of its key overseas subsidiaries. The decision, made during a board meeting on September 22, 2026, involves increasing the share capital of Manorama Africa Benin (Benin), Manorama Savanna Togo Sarl (Togo), and Manorama Africa Savanna (Ivory Coast) by up to ₹10 crore each. This brings the total approved increase in share capital across these entities to ₹30 crore.
Strategic Capital Allocation
The capital increases are primarily aimed at strengthening the subsidiaries’ financial base to support their working capital needs and general corporate requirements. The funds will also be utilized to meet the ongoing operational demands of these wholly-owned entities. The board’s decision emphasizes a strategic allocation of resources to bolster the international operations of Manorama Industries.
Manorama Africa Benin (Benin)
Incorporated in October 2024, Manorama Africa Benin is engaged in trading activities. The proposed share capital infusion of up to ₹10 crore will support its working capital and general corporate purposes, aligning with the company’s international expansion strategy.
Manorama Savanna Togo Sarl (Togo)
Established in September 2024, Manorama Savanna Togo Sarl also operates in the trading sector. The approved capital increase of up to ₹10 crore will be directed towards its working capital and operational requirements, facilitating its business growth in Togo.
Manorama Africa Savanna (Ivory Coast)
Incorporated in October 2024, Manorama Africa Savanna is another trading entity within the Manorama group. The board has sanctioned a share capital increase of up to ₹10 crore to support its working capital and general corporate activities, reinforcing its presence in Ivory Coast.
All three subsidiaries are wholly owned by Manorama Industries Limited, and the transactions are considered related party transactions conducted on an arm’s-length basis. The share capital increases are subject to applicable regulatory and statutory approvals.
Source: BSE
