On April 26, 2024, V.S.T Tillers Tractors Ltd informed in an exchange filing that on April 25, 2024, the company incorporated a wholly owned subsidiary in the name of VST Americas Inc. This new wholly-owned subsidiary was incorporated in the United States.
This new subsidiary was set up to assist V.S.T Tillers Tractors Ltd in augmenting its growth opportunities by catering to the needs of the United States market in the tractor and farm machinery segment.
VST Americas Inc., has been incorporated with a capital of USD 5,000 divided into 5,000 shares of common stock of $1 par value per share. V.S.T Tillers Tractors Ltd holds a 100% stake in VST Americas Inc.
In another stock exchange filing, V.S.T Tillers Tractors Ltd stated that its newly incorporated wholly owned subsidiary, VST Americas Inc., incorporated a Limited Liability Company (LLC) in the name of VST FIELDTRAC LLC in the United States. VST FIELDTRAC LLC shall be a step-down subsidiary of V.S.T Tillers Tractors Ltd.
This step-down subsidiary was incorporated on April 25, 2024, in the manufacturing or trading of tractors and other farm machinery.
The company stated that VST FIELDTRAC LLC has been incorporated to cater for the requirements of the United States market in the tractor and other farm machinery segment.
Both the newly incorporated companies, VST Americas Inc., and its wholly owned subsidiary, VST FIELDTRAC LLC, are yet to commence their operations in the United States of America.
VST Tillers Tractors Ltd was founded in 1967 by the esteemed VST Group, a renowned business entity. Originally established as a joint venture between VST Motors and Mitsubishi Heavy Industries Ltd of Japan in 1966, VST Tillers Tractors Ltd has evolved into the leading manufacturer of Power Tillers in India. In Q3 FY 2024, the company reported a total income of ₹169.96 crore and a net profit of ₹16.95 crore.
On April 26, 2024, the share price of VST Tillers Tractors Ltd opened at ₹3,324.00, touching the day’s high at ₹3,499.90, as of 11:14 AM on the NSE.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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