Omaxe Ltd to Incorporate Wholly Owned Subsidiary

Omaxe Limited has announced its decision to incorporate a Wholly Owned Subsidiary (WOS) in India. The proposed entity will focus on real estate activities, particularly projects under the Public-Private Partnership (PPP) model. Omaxe Limited will hold 100% of the equity share capital, subscribing to 10,000 equity shares with a face value of Rs. 10 each, aggregating to Rs. 1,00,000. The name of the subsidiary is yet to be approved by the Registrar of Companies (ROC). This move is part of the company's strategy to expand its operations in the real estate sector.