LKP Securities to invest in its wholly-owned subsidiary

LKP Securities has announced a strategic move to invest in its wholly owned subsidiary LKP IFSC Private Limited. The company said that the investment will be made through a rights issue.

"The company has agreed to acquire 5,00,000 equity shares of Rs. 10/- each at par aggregating to Rs. 50,00,000/-(Rupees Fifty Lakhs only) by way of subscribing to the rights issue of LKP
IFSC Private Limited," the company said in an exchange filing.

The company said that there would be no change in the shareholding of the company in LKP IFSC. LKP IFSC will continue to remain a 100 per cent wholly owned subsidiary.

LKP IFSC was incorporated under the Companies Act 2013 on 09/05/2022 as a wholly owned subsidiary of the company and proposed to engage in the business
of broking as well as alternative investment funds at the Gift City.

The company is yet to commence its operations and it doesn’t have any turnover.