Daikaffil Chemicals India Establishes Wholly Owned Subsidiary in Nigeria
Daikaffil Chemicals India Limited has incorporated a wholly owned subsidiary, Mikusu Global Industries Limited, in Nigeria. The new entity, with a share capital of ₦100,000,000, will focus on the agro-chemical industry, producing pesticides, insecticides, herbicides, fungicides, and weedicides. The incorporation, approved by Daikaffil's Board on August 12, 2025, was completed on August 22, 2025, under Nigerian law. This strategic move marks Daikaffil's entry into the African agro-chemical market, potentially opening new growth opportunities.
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Daikaffil Chemicals India Limited has taken a significant step in expanding its international presence by incorporating a wholly owned subsidiary in Nigeria. The new entity, named Mikusu Global Industries Limited, marks Daikaffil's entry into the African agro-chemical market.
Key Details of the Subsidiary
| Detail | Value |
|---|---|
| Name | Mikusu Global Industries Limited |
| Incorporation Date | August 22, 2025 |
| Location | Nigeria |
| Share Capital | ₦100,000,000 (approximately ₹57,00,000) |
| Shareholding | 100% owned by Daikaffil Chemicals India Limited |
Business Focus
Mikusu Global Industries Limited will operate in the agro-chemical industry, with a focus on:
- Pesticides
- Insecticides
- Herbicides
- Fungicides
- Weedicides
Corporate Governance and Compliance
The incorporation of Mikusu Global Industries Limited follows all necessary regulatory procedures:
- The Board of Directors of Daikaffil Chemicals India Limited approved the incorporation on August 12, 2025.
- The subsidiary was incorporated under the Companies And Allied Matters Act, 2020 of Nigeria.
- The Corporate Affairs Commission of Nigeria issued the Certificate of Incorporation on August 22, 2025.
- Daikaffil Chemicals will remit funds for the share capital in compliance with the Foreign Exchange Management Act, 1999 of India.
Regulatory Disclosure
Daikaffil Chemicals India Limited has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has informed the BSE Limited about this development, maintaining transparency with its stakeholders.
Strategic Implications
This move by Daikaffil Chemicals India Limited represents a strategic expansion into the African market. By establishing a wholly owned subsidiary in Nigeria, the company is positioning itself to tap into the agro-chemical industry in the region. This expansion may provide Daikaffil with new growth opportunities and potentially diversify its revenue streams.
Historical Stock Returns for Daikaffil Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.81% | +1.67% | -4.41% | -28.81% | -53.68% | +332.84% |
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