Oberoi Realty JV Homexchange makes rights issue worth Rs1900 lakh; Stock up 1%

24 Mar 2022 , 11:00 AM

Homexchange Limited (HX), a joint venture of Oberoi Realty Limited (ORL) has made a rights issue of its equity shares for an amount of Rs1900 lakh. With the objective of re-calibrating promoter inter-se shareholding in HX, ORL has subscribed to Rs900 lakh of equity shares of HX at par value.

Accordingly, ORL’s shareholding in HX post right issue stands at 47.5%.

HX was jointly incorporated by ORL and others with an authorized & paid-up equity share capital of Rs100.00 Lakh, with ORL subscribing to an amount of Rs50.00 Lakh of equity shares for a 50% stake.

At around 11.02 am, Oberoi Realty Ltd was trading at Rs929.75 per share up by Rs9.35 or 1.02% from its previous closing of Rs920.40 per share on the BSE.