Belrise Industries to Incorporate SPV for Vocational Education

Belrise Industries Limited's Board of Directors has approved the incorporation of a Special Purpose Vehicle (SPV) under Section 8 of the Companies Act, 2013. This SPV will focus on promoting vocational education through the upgradation and management of ITIs under the PM SETU Project. The SPV will be a subsidiary of Belrise Industries, with the company subscribing to 51% of its shares via cash consideration at a face value of Rs. 10 each. The incorporation is subject to approval from the Ministry of Corporate Affairs and other relevant authorities.