NEW DELHI: Vedanta Ltd announced on Wednesday the establishment of a wholly-owned subsidiary, Vedanta Property Platforms Ltd (VPPL), to enter the real estate sector.
VPPL will act as a strategic platform for Vedanta’s ventures in real estate and associated activities.
This initiative is designed to monetize excess land and non-core property assets while creating a dedicated structure for prospective joint ventures and asset-light strategies to finance growth in its primary metals and energy sectors.
According to a filing with BSE, VPPL was incorporated in Mumbai, Maharashtra, on June 22.
The subsidiary will provide a strategic framework for engaging in real estate and related activities. It has an authorized capital of Rs 1 lakh, consisting of 1 lakh equity shares at Rs 1 each, with a subscribed capital also at Rs 1 lakh.
Vedanta has acquired 100% of the equity of the subsidiary through a cash investment of Rs 1 lakh, establishing VPPL as a wholly-owned entity.
As a newly formed company, VPPL has yet to commence operations and currently reports no turnover.
Vedanta Ltd is a prominent global producer of metals, critical minerals, and technology with operations spanning India, Africa, the Middle East, and East Asia.
