W S Industries (I) Limited — Important, 30-12-2024: General Updates

M/s. W.S. Industries (India) Limited has diluted its stake in WSI Falcon Infra Projects Private Limited to 51% following the allotment of 96,079 fully paid-up equity shares, each with a face value of INR 10, to Prestige Exora Business Parks Limited. This private placement, valuing around INR 9.61 crore, results in WSI Falcon becoming a subsidiary, rather than a wholly-owned subsidiary. Additionally, the company has appointed Mr. Mohmed Zaid Sadiq and Mr. Zayd Noaman as additional directors on its Board, effective immediately. This strategic move may indicate a shift in management dynamics and potential growth avenues within the subsidiary.