Ladderup Finance (BOM:530577) said its subsidiary Ladderup Asset Managers has incorporated a step-down subsidiary, Ladderup Fund Management IFSC Pvt Ltd, in GIFT City, Ahmedabad, according to a Monday filing on the local bourse.
The unit established itself with a paid-up capital of 100,000 Indian rupees, focusing on fund management. It has yet to commence operations.
Ladderup Asset Managers holds 97% of the new company's equity.
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