01 May 2024

Trans India House Impex soars on getting nod to incorporate subsidiary company

Trans India House Impex is currently trading at Rs. 29.28, up by 0.55 points or 1.91% from its previous closing of Rs. 28.73 on the BSE.

The scrip opened at Rs. 30.19 and has touched a high and low of Rs. 30.19 and Rs. 28.30 respectively. So far 5652 shares were traded on the counter.

The BSE group 'X' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.95 on 22-Feb-2024 and a 52 week low of Rs. 17.25 on 22-Sep-2023.

Last one week high and low of the scrip stood at Rs. 31.80 and Rs. 28.00 respectively. The current market cap of the company is Rs. 104.09 crore.

The promoters holding in the company stood at 55.30%, while Institutions and Non-Institutions held 0.03% and 44.67% respectively.

Trans India House Impex has received approval for promotion and incorporation of a subsidiary company under the name and style ‘TIHIL NVBF Media House’ or such other names as may be approved by the Central Registration Centre and/or Ministry of Corporate affairs subject to necessary compliances and reporting’s under the Companies Act, 2013. The company shall subscribe 51% of the total Paid Up Share Capital, Voting Rights and Beneficial Ownership in the subsidiary company and accordingly shall subscribe 5100 Equity Shares of face value of Rs 10 of the subsidiary company. 

The proposed company shall carry out the activities related to Digital Production, Influencer Marketing Promotion activities, Brand Content Production, Celebrity Brand Endorsements and Management. The said Investment is within the limits prescribed under Section 186(2) of the Companies Act, 2013 together with the limits passed by the Shareholders of the company by passing Special Resolution in the 35th Annual General Meeting held on Saturday September 30, 2023. The Board of Directors of the Company, at their meeting held on April 29, 2024, had inter alia, considered and approved the same.  

Trans India House Impex (TIHIL), formerly known as IO System, is a service-oriented export trading company providing domestic and international companies the opportunity to import and export products to new and existing markets.