The registered office of SIL is situated in Mumbai, Maharashtra, India. Stylenest India (SIL) is a wholly owned subsidiary of Borosil, the holding company.
SIL will be engaged, inter alia, in the business of manufacturing, marketing, and distribution of household and kitchenware products and related items, subject to the receipt of necessary approvals.
The firm stated the nature of the consideration, whether cash or share swap, along with details of the 100% subscription to the initial paid-up share capital in cash.
The cost of subscription at which the shares are subscribed is Rs 50,00,000, i.e., 50,00,000 equity shares of face value of Rs 1/- each, at par value.
The listed entity holds 100% control, with the subscription to the initial paid-up share capital made in cash.
Borosil is a supplier of laboratory glassware, microwaveable kitchenware, and opal ware in India. It sells and markets microwavable and flameproof kitchenware and glass tumblers through more than 15,000 retail outlets and has three manufacturing facilities.
The company's consolidated net profit declined 4.9% to Rs 35.48 crore despite an 11.3% increase in revenue from operations to Rs 338.10 crore in Q3 FY25 over Q3 FY24.
Shares of Borosil declined 1.43% to Rs 320.90 on the BSE.