Board Approval Details
The Board of Directors of Raymond Realty Limited approved the following at their meeting held on Friday, August 07, 2026:
- Incorporation of a wholly owned subsidiary company
- Investment of initial subscription amount of ₹1,00,000 as paid-up capital
- Meeting timing: 04:00 PM to 05:30 PM IST
Subsidiary Company Details (Ten X Mahalaxmi Limited)
Corporate Structure:
- Proposed name: Ten X Mahalaxmi Limited (TXML)
- Status: Wholly owned subsidiary
- Incorporation: Proposed to be incorporated in India in the state of Maharashtra
- Authorized Share Capital: ₹1,00,000 divided into 10,000 equity shares of ₹10 each
Business Operations:
- Industry: Real Estate
- Business: To undertake real estate business, particularly under redevelopment model
- Turnover: Nil (new incorporation)
- Strategic purpose: Mitigate project-specific risks and explore new real estate projects
Investment Details:
- Investment method: Subscription in cash by Raymond Realty Limited along with its nominees
- Number of shares: 10,000 equity shares of ₹10 each
- Investment amount: ₹1,00,000
- Shareholding: 100% ownership by Raymond Realty Limited
Regulatory Aspects:
- Not a related party transaction
- No promoter/promoter group/group companies have any interest in the entity
- No governmental or regulatory approvals required
- No indicative time period for completion specified
Additional Information
- Information will be available on company website: www.raymondrealty.in
- Filed by Hiren Sonawala, Company Secretary