RDB Real Estate Invests ₹49,000 in New SPV

RDB Real Estate Constructions Ltd's Committee of Directors has approved an investment of 49% equity shares in a proposed Special Purpose Vehicle (SPV), Ashoka-RDB Infrastructure & Development Private Limited. The SPV, to be incorporated in India, will focus on developing a Gems & Jewellery Park under a Public Private Partnership (PPP) model in Raipur, Chhattisgarh. The investment amounts to ₹49,000, with RDB Real Estate subscribing to 4,900 equity shares of ₹10 each. The consideration is in cash, and the SPV is currently in the process of incorporation.