Remsons Industries and Daiichi Infotainment Systems Establish a Joint Venture Company

On April 29, 2024, Remsons Industries Limited informed in a stock exchange filing that the company and Daiichi Infotainment Systems Private Limited had incorporated a Joint Venture Company, Daiichi Remsons Electronics Private Limited.

Details of the Joint Venture Company

Remsons Industries Limited announced that Daiichi Remsons Electronics Private Limited (DREPL) was incorporated on April 28, 2024.

The company was incorporated with an authorised share capital of ₹15,00,000 divided into 1,50,000 equity shares of ₹10 each and paid-up share capital of ₹15,00,000 divided into 1,50,000 equity shares of ₹10 each.

Daiichi Remsons Electronics Private Limited has been incorporated as a 50:50 Joint Venture

between Remsons Industries Limited and Daiichi Infotainment Systems Private Limited. Daiichi Remsons Electronics Private Limited would be involved in the manufacturing and selling of electronic goods and their components for the automotive sectors. Their product portfolio includes circuit breakers, meters, fuses, transformers, and more. Additionally, they engage in the trading of automobile infotainment systems, speakers, antennas, and ADAS.

The cost of acquisition for the shares amounted to ₹7,50,000, representing the price at which they were acquired. This acquisition corresponds to a 50% shareholding or control, which includes 75,000 equity shares valued at ₹10 each.

About Remsons Industries Limited

Remsons Industries Ltd is an automotive Original Equipment Manufacturer (OEM) components manufacturer. The company supplies its products to two-, three-, and four-wheeler vehicles, commercial vehicles, and off-highway vehicles all over India and automotive OEMs globally. Remsons has state-of-the-art facilities in Gurgaon, Pune, Pardi, and Daman, and Stourport, the UK.

In April 2024, Remsons Industries Ltd earned a Gold Medal in the esteemed Ecovadis Sustainability Assessment. This recognition positions the company among the top 5% of all evaluated companies worldwide, underscoring its dedication to environmental, social, and governance (ESG) standards.

On April 30, 2024, the share price of Remsons Industries Ltd opened at ₹988.00, touching the day’s high at ₹990.00, as of 11:07 AM on the NSE.

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