RDB Real Estate to form JV with Ashoka Buildcon for Gems Park project

Marquee Jv AnnouncedStrategic Transactions View source PDF

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Price reaction · full curve 14 horizons · vs prior close

-5.8%1-day move

₹190.95

prior close

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AI summary

RDB Real Estate will hold 49% stake in a new SPV named Ashoka-RDB Infrastructure and Development Private Limited, being incorporated with Ashoka Buildcon. RDB will subscribe 4,900 equity shares of Rs 10 each, aggregating to Rs 49,000, in cash. The SPV will develop a Gems and Jewellery Park under PPP mode at Krishi Upaj Mandi, Raipur, Chhattisgarh. The company is yet to be formally incorporated.

Likely market impact

Strategic entry into infrastructure PPP segment with marquee partner Ashoka Buildcon. Initial capital outlay is nominal at around Rs 49,000.