Omaxe approves incorporation of wholly owned subsidiary

Omaxe has approved to incorporate a Wholly Owned Subsidiary (WOS) of the company. The proposed entity will undertake real estate-related activities, particularly projects under the Public-Private Partnership (PPP) model.  

Omaxe will hold 100% of the equity share capital in the new subsidiary. The initial capitalization involves the subscription of 10,000 equity shares with a face value of Rs 10 each. The total consideration aggregates to Rs 1 lakh, which will be paid through banking channels.

Omaxe is one of India’s leading and trusted real estate companies. The company is into the business of developing real estate properties for residential, commercial and retail purposes.