NEW DELHI: Oberoi Realty has subscribed to equity shares worth ₹268.50 crore in Centerstage Realty, its wholly-owned subsidiary, on a rights basis, according to a regulatory filing.
The company acquired 26.85 crore equity shares of ₹10 each at par value. Following the subscription, the company continues to hold 100% shareholding and control in Centerstage Realty.
Centerstage Realty was incorporated on June 2, 2026, as a special purpose vehicle to undertake the development of railway land in Bandra East, adjoining Western Express Highway, Mumbai.
Earlier, the company had informed that its bid to the Railway Land Development Authority (RLDA) for the grant of lease of about 45,371 sq metre, or about 11 acres, of railway land for 99 years had emerged as the highest bid.
The company had subsequently paid ₹247.50 crore to RLDA within 30 days of the issue of the letter of demand.
As per the bid documents, the project is required to be implemented through a newly incorporated special purpose vehicle under the Companies Act, 2013. The lease agreement for the land will be executed by RLDA in favour of the SPV.
The bid documents also require the SPV to have a minimum paid-up and subscribed share capital of ₹268.50 crore.
