Sanghvi Movers Limited has incorporated a wholly owned subsidiary in The Republic of Botswana, marking its expansion into the African market. The company informed the stock exchanges on January 14, 2026, about the incorporation of Sanghvi Movers Botswana Proprietary Limited under Regulation 30 of SEBI listing regulations.

Subsidiary Details

The newly incorporated subsidiary was established on January 13, 2026, with the business registration extract received on the same date. The subsidiary has been set up specifically for crane rental services, aligning with the parent company's core business operations.

Ownership Structure

Sanghvi Movers Limited will hold 100% of the share capital of the Botswana subsidiary, making it a wholly owned subsidiary. This structure provides the parent company with complete control over the operations and strategic direction of the new entity.

Business Rationale

The subsidiary has been incorporated to carry on crane rental services in Botswana, which is within the main line of business of the listed entity. This expansion allows Sanghvi Movers to extend its crane rental services to the African market, potentially tapping into new business opportunities in the region.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both BSE Limited (Scrip Code: 530073) and National Stock Exchange of India Limited (Symbol: SANGHVIMOV) about the incorporation. The intimation was made pursuant to Regulation 30 read with Schedule III of SEBI listing regulations and SEBI Circular dated November 11, 2024.

Current Status

The subsidiary is yet to commence business operations, with nil turnover reported at the time of incorporation. As a newly established entity, the subsidiary will likely focus on setting up its operational infrastructure and exploring business opportunities in the Botswana crane rental market.

Sanghvi Movers has announced that its subsidiary has secured a significant contract worth ₹4.29 billion (₹429 crore), marking a major business development for the heavy lifting and transportation services company.

Contract Details

The contract secured by the company's subsidiary represents a considerable value addition to Sanghvi Movers' business portfolio. The following table summarizes the key contract information:

Business Impact

This contract award demonstrates Sanghvi Movers' competitive strength in securing large-scale projects within its operational sector. The substantial value of ₹4.29 billion indicates the significant scale and scope of the project that the company's subsidiary will be undertaking.

The successful contract acquisition reflects the company's established market presence and technical capabilities in the heavy lifting and transportation services industry. Such major contract wins typically contribute to strengthening the company's order book and provide revenue visibility for future periods.

Company Operations

Sanghvi Movers operates in the specialized sector of heavy lifting and transportation services, providing critical infrastructure support across various industries. The company's ability to secure contracts of this magnitude underscores its operational expertise and market positioning within the industry.

This latest contract win adds to the company's portfolio of projects and reinforces its role as a significant player in the heavy lifting and crane rental services market.