Oberoi Realty subscribes to rights issue of JV Homexchange

29 Mar 2022 , 01:33 AM

Homexchange HX is a joint venture of Oberoi Realty ORL HX was jointly incorporated by ORL and others with an authorised paid-up equity share capital of Rs 10000 Lakh with ORL subscribing to an amount of Rs 50 lakh of equity shares for a 50Percentage stake HX has made a rights issue of its equity shares for an amount of Rs 19 crore With the objective of re-calibrating promoter inter-se shareholding in HX ORL has subscribed to Rs 9 crore of equity shares of HX at par value Accordingly ORLs shareholding in HX post right issue stands at 475Percentage