New Delhi: Navratna PSU NBCC (India) Limited has announced the incorporation of a wholly-owned subsidiary, NBCC Overseas Real Estate LLC, in Dubai Mainland, UAE. The move marks a significant step in the company's strategy to expand its global footprint in the real estate sector.
In a regulatory filing with the stock exchanges on May 16, NBCC stated that the new entity has been established with a nominal and paid-up capital of AED 1,000,000. As a newly incorporated firm, the subsidiary is yet to commence operations.
The primary objective behind setting up NBCC Overseas Real Estate LLC is to engage in the buying and selling of real estate in Dubai. This aligns with NBCC’s broader strategy of leveraging international opportunities in the real estate and infrastructure sectors.
According to the disclosure, the new subsidiary qualifies as a related party of NBCC (India) Ltd. However, the company clarified that neither the promoter nor the promoter group has any interest in the subsidiary beyond its shareholding.
The formation of the subsidiary received prior approval from the Department of Investment and Public Asset Management (DIPAM), which reiterated its consent via an Office Memorandum dated February 24, 2025. The company is currently awaiting approval from the Reserve Bank of India under the Overseas Direct Investment (ODI) norms.
The entire equity of NBCC Overseas Real Estate LLC has been subscribed to by NBCC (India) Ltd in cash at face value, ensuring 100 percent ownership and control.
This development underscores NBCC's commitment to expanding its international operations and exploring new avenues for growth in the global real estate market.
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