Aditya Birla Real Estate Limited Establishes Step-Down Subsidiary, Prajna Properties Private Limited
Aditya Birla Real Estate Limited announced that Birla Estates Private Limited, a wholly owned subsidiary of the company, has incorporated a new wholly owned subsidiary named Prajna Properties Private Limited. With this incorporation, Prajna Properties Private Limited assumes the status of a Step-Down Wholly Owned Subsidiary of Aditya Birla Real Estate Limited.The newly established entity is situated within the real estate industry. The incorporation of Prajna Properties Private Limited is intended to facilitate the acquisition of land and/or the development of real estate projects.
The ownership structure confirms that Prajna Properties Private Limited is promoted by Birla Estates Private Limited (BEPL), which is already a wholly owned subsidiary of the parent company, consequently designating it as a related party to Aditya Birla Real Estate Limited.
Key details regarding Prajna Properties Private Limited include:
| Particulars | Detail |
|---|---|
| Entity Name | Prajna Properties Private Limited |
| Industry | Real Estate |
| Status | Newly incorporated Private Limited Company |
| Object | To acquire land and/or develop real estate projects |
| Shareholding | 100% shareholding is held by Birla Estates Private Limited |
| Transaction Details | Initial share subscription to memorandum of association |
| Cost of Acquisition | Initial share subscription to memorandum of association at face value |
ABREL Stock Price Movement
Today, Aditya Birla Real Estate Limited shares gained 0.21% to close at ₹1420.4, following a positive movement on the exchange. The equity traded heavily today, recording a volume of 88,188 shares.Source:
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