NEW DELHI: Oberoi Realty has invested ₹268.50 crore in equity shares of Centerstage Realty, its fully-owned subsidiary, via a rights issue, as stated in a regulatory filing.
The company purchased 26.85 crore equity shares at a nominal value of ₹10 each. Following this transaction, Oberoi Realty maintains its complete ownership and control of Centerstage Realty.
Centerstage Realty was established on June 2, 2026, as a special purpose vehicle for the development of railway land in Bandra East, adjacent to the Western Express Highway in Mumbai.
Previously, the company disclosed that its bid to the Railway Land Development Authority (RLDA) for leasing approximately 45,371 sq meters (about 11 acres) of railway land for 99 years was the highest offer submitted. The company subsequently paid ₹247.50 crore to RLDA within 30 days of receiving the demand letter.
The bid documents stipulate that the project will be implemented through a newly formed special purpose vehicle, as per the Companies Act of 2013, and the lease agreement for the land will be executed by RLDA in favor of this SPV. Additionally, the documents require the SPV to have a minimum paid-up share capital of ₹268.50 crore.
