Islamabad, Dec 27: Service Industries Limited (PSX: SRVI) has announced its decision to invest Rs. 500 million in its wholly-owned subsidiary, Service Retail (Private) Limited. The company disclosed the development in a filing to the Pakistan Stock Exchange on Friday.
The investment, classified as a long-term equity commitment, involves subscribing to 50,000,000 fully paid ordinary right shares of Rs. 10 each, issued at par. This move highlights the company’s strategy to strengthen its subsidiary and expand its footprint in the retail sector.
Service Industries Limited is a prominent player in Pakistan’s manufacturing and retail landscape, with principal activities including the purchase, manufacture, and sale of footwear, tires, tubes, and technical rubber products. The latest investment underscores the company’s commitment to bolstering its retail operations through its subsidiary, potentially enhancing its market presence and operational capabilities.
This development aligns with the company’s growth trajectory and signals confidence in the subsidiary’s potential to contribute to its overall business objectives. The investment is expected to fuel further innovation and expansion in its core product lines.
