Mumbai, March 21 -- The subsidiary was incorporated on 19 March 2025 and will operate in the watch products industry. The cost of acquisition for the shares was Rs 1.6 crore, representing the initial subscription in the form of equity share capital. The authorized share capital of Artisan Watch Products is Rs 5 crore, divided into 50 lakh equity shares of Rs 10 each. The subscribed and paid-up capital is Rs 2 crore, divided into 20 lakh equity shares of Rs 10 each. The transaction was made on a cash consideration basis.

The company has undertaken to subscribe to 80% of the shareholding in Artisan Watch Products.

The company clarified that the initial subscription does not constitute a related party transaction. Additionally, Yashovardha...