Va Tech Wabag has incorporated a subsidiary company Kopri Bio Engineering under the provisions of the Companies Act 2013 vide certificate of incorporation issued by the Ministry of Corporate Affairs, India.
The authorised capital of the newly incorporated subsidiary company is Rs 15,00,000 and the paid up capital is Rs 1,00,000.
The company has been incorporated to carry out the business of manufacturing, processing, owning, operating and maintaining sewage treatment plant, membrane-based tertiary treatment plant, setting up of biogas plant and sale of treated sewage to external agencies.
The company has been incorporated with an initial capital of Rs 1,00,000 divided into 10,000 equity shares of Rs 10 each.
Of the entire capital, 51 percent will be held by Va Tech Wabag (5,100 equity shares) and the remaining 49 percent (4,900 equity share) will be held by Gradiant India.
The Ministry of Corporate Affairs has accorded its approval for incorporation of the new company in the state of Tamil Nadu.