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Asian Paints establishes wholly-owned subsidiary in Qatar

Nov 6, 2023

By: BlinkX Research Team

Asian Paints has established Asian Paints Doha Trading as its wholly-owned subsidiary in Qatar. This new entity, known as APDT W.L.L., has a registered capital of QAR 10,00,000, divided into 100,000 shares with a face value of QAR 10 each. The incorporation is part of Asian Paints' strategy to expand its presence in the paints, coatings, building construction materials, and home décor products industry.

This acquisition does not involve any related party transactions, and the promoter or group companies have no existing interest in APDT W.L.L. It will operate as a step-down subsidiary of Asian Paints through its subsidiary, Asian Paints International Private Limited in Singapore.

APDT W.L.L. will engage in trading activities related to paints, coatings, allied products, chemicals for building and construction, and home décor products. Its incorporation date is November 5, 2023, in Qatar. As of now, there is no available turnover data for APDT W.L.L., and it will operate exclusively in Qatar under Asian Paints' ownership. This development marks a significant step for Asian Paints in expanding its global footprint in the industry.