Oberoi Realty subscribes to rights issue of JV Homexchange

Now holds 47.5% stake in Homexchange

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. 100.00 Lakh, with ORL subscribing to an amount of Rs. 50 lakh of equity shares for a 50% 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, ORL's shareholding in HX post right issue stands at 47.5%.

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