Oberoi Realty Subscribes Rs 268.50 Crore in Centerstage Shares for Mumbai Land Development Project
Oberoi Realty Limited has undertaken a significant investment in its wholly owned subsidiary, Centerstage Realty Private Limited, by subscribing to further shares valued at Rs 268.50 Crore on a rights basis. This action fulfills the requirement set forth in a bid submitted by Oberoi Realty to secure a long-term lease for railway land in Bandra East, Mumbai.Centerstage Realty Private Limited was incorporated as the designated Special Purpose Vehicle (SPV) on June 2, 2026, dedicated exclusively to executing the project. To comply with the minimum paid up and subscribed share capital requirement of Rs 268.50 Crore mandated by the bid document, Oberoi Realty increased its stake in Centerstage on June 9, 2026.
The project involves the development of approximately 45,371 sq. mt., or about 11 acres, of railway land located in Bandra East, adjoining the Western Express Highway, Mumbai. The lease is set for a duration of 99 years with the Railway Land Development Authority (RLDA).
Prior to this capital infusion, Oberoi Realty had emerged as the highest bidder for the land parcel and had paid an amount of Rs 247.50 Crore to RLDA within 30 days of receiving the letter of demand from the authority.
The details pertaining to the acquisition of shares in Centerstage are summarized below:
| Particulars | Details |
|---|---|
| Target Entity Name | Centerstage Realty Private Limited (Size/turnover: Not applicable, as newly incorporated) |
| Industry | Real estate construction development |
| Acquired Shares | 26,85,00,000 equity shares of Rs 10 each at par value |
| Acquisition Cost | Rs 268.50 Crore |
| Percentage Acquired | 100% |
| Date of Incorporation (SPV) | June 2, 2026 |
| Nature of Transaction | Cash |
OBEROIRLTY Stock Price Movement
On Tuesday, Oberoi Realty Limited shares edged higher to close at ₹1632.5, gaining 2.41% from the previous session's closing price. The equity saw robust activity throughout the day, with a traded volume of 331,753 shares recording the move.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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