Raymond Realty to Incorporate Wholly Owned Subsidiary for Real Estate Projects

Raymond Realty Limited's Board of Directors has approved the incorporation of a wholly owned subsidiary to explore and undertake new real estate projects, particularly under the redevelopment model. The subsidiary will have an initial paid-up capital of ₹1,00,000. This strategic move aims to mitigate project-specific risks. The new entity, Ten X Mahalaxmi Limited, will be incorporated in India with an authorized share capital of ₹1,00,000 and will engage in real estate business. The investment will be made in cash.