Oswal Greentech Limited has formally incorporated a foreign subsidiary in Dubai, United Arab Emirates named OSWAL GREENTECH REAL ESTATE DEVELOPMENT L.L.C. The incorporation was approved by the Department of Economic and Tourism (DET), Government of Dubai.
Subsidiary Details
- Legal Form: Limited Liability Company (LLC) registered in Dubai, UAE
- Business Activity: Real Estate Development
- Registered Address: Office 63, Al Murar, Deira, Dubai, UAE
- Operational Status: Yet to commence business operations
- Country of Presence: Dubai, United Arab Emirates
Ownership Structure
- Oswal Greentech Limited Holding: 95% (38,000 equity shares)
- Promoter Holding: Mr. Shael Oswal (promoter group member) holds 5% (2,000 equity shares)
- Mr. Shael Oswal's Role: Manager of the subsidiary
Financial Details
- Share Capital: 40,000 equity shares total
- Face Value: AED 1,000 per share
- Investment Amount: AED 38,000,000 (AED 38 million) for 38,000 shares
- Payment Method: Cash / Banking Channel
- Valuation: Shares acquired at par value
Business Rationale
The subsidiary was established to expand the company's business presence internationally and undertake development of land, residential, and commercial projects in the UAE and GCC regions.
Timeline
- Board Approval: Previously intimated on June 22, 2026
- Incorporation Completion: October 28, 2026 (date of disclosure)
- Time Period: Not applicable for completion as it is an incorporation rather than acquisition
Additional Information
The disclosure was signed by Harshendra Mandloi, Company Secretary & Compliance Officer of Oswal Greentech Limited, and submitted to both BSE Limited and National Stock Exchange of India Limited.