Shalby Ltd has informed the stock exchanges that the board of its wholly-owned subsidiary, Mars Medical Devices Ltd (MMDL), has approved investment in the company’s step-down subsidiary, Shalby Global Technologies Pte. Ltd, Singapore.’
According to the regulatory filing, MMDL’s shareholding in SGTPL will be 100 per cent. It will invest in 2,00,000 preference shares of SGD 1 each. However, there will not be any change in equity shareholding.
The Shalby stock rose by 3.21 per cent on the NSE, at ₹325.10 as of 2:03 pm on Monday.