AIA Engineering Ltd’s shares were up 0.75 per cent after the company, along with its wholly-owned subsidiary, Vega Industries (Middle East) FZC, subscribed to 3,65,328 shares in Vega Industries Peru Ltd. On August 1, 2023, the company said it had acquired 100 per cent stake in Vega Industries Peru Ltd, a trading, import-export, and general trading company based in Peru.
Vega Industries Peru Ltd is a newly incorporated company with paid-up capital consisting of 3,750 shares. The indicative cash equivalent is approximately Rs 82.29 lakh. The share subscription arrangement is AIA Engineering Ltd holding 1 per cent (3,654 shares), and Vega Industries (Middle East) FZC holding 99 per cent (3,61,674 shares) of the acquired shares.
The shares were up by 0.75 per cent at Rs 3,625 at 12.20 pm on the BSE.