Announced Mon, 22 Jun · 20:00 IST
Board approves Dubai subsidiary for real estate, internal auditor resigns
Strategic Transactions View source PDF
OSWALGREEN · price
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Price reaction · full curve 14 horizons · vs prior close
-3.8%1-day move
₹23.78
prior close
₹24.40
base price
After-mkt
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AI summary
Oswal Greentech's board approved incorporating a subsidiary in Dubai, UAE for real estate development. The company will invest AED 38 million for a 95 percent stake (total AED 40 million), with promoter Shael Oswal holding the remaining 5 percent. Separately, internal auditor M/s Siddharth S. Kothari and Co resigned citing personal reasons.
Likely market impact
Dubai real estate subsidiary signals international expansion and possible capital deployment. Internal auditor change is routine.