RDB Real Estate Constructions Invests in New SPV for Gems & Jewellery Park Development
RDB Real Estate Constructions Ltd has committed to a strategic investment in a new Special Purpose Vehicle (SPV) aimed at the development of a Gems and Jewellery Park. The company approved the investment representing 49% of the Paidup Share Capital in the entity, which is being incorporated as ASHOKA - RDB INFRASTRUCTURE & DEVELOPMENT PRIVATE LIMITED.The proposed company is set up for the purpose of developing a Gems & Jewellery Park through a Public Private Partnership (PPP) model. The project location is specified as Krishi Upaj Mandi, Mandi Road, Pandri, Raipur in Chhattisgarh.
Details regarding the financial structure and shares allotted under this investment are as follows:
| Particular | Details |
|---|---|
| New Entity Name | ASHOKA - RDB INFRASTRUCTURE & DEVELOPMENT PRIVATE LIMITED |
| Industry | Real Estate |
| Project Focus | Development of Gems & Jewellery Park via PPP mode |
| Investment Type | Cash consideration |
| Shares Subscribed | 4,900 equity shares |
| Subscription Cost per Share | Rs. 10/- |
| Total Investment Amount | Rs. 49,000/- |
The investment represents a 49% shareholding in the proposed company. The SPV is being incorporated with Ashoka Buildcon Limited as its holding company, which holds no relation to RDB Real Estate Constructions Ltd.
Stock Price Movement
At the close of trade today, shares of RDB Real Estate Constructions Ltd settled at ₹185.15, ticking up 0.90%. Throughout the trading session, the stock tested a wide range, touching lows near ₹175.10 but managing to reach an intraday high of ₹191.00.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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