Mumbai, June 23 -- The name of the proposed subsidiary will be finalised upon approval from the relevant authorities in the UAE.

The subsidiary will undertake the development of land, residential and commercial properties in the UAE, along with other permitted activities.

Oswal Greentech will hold a 95% stake in the proposed subsidiary. The company plans to make an initial investment of AED 40 million in one or more tranches.

Under the proposed share capital structure, Oswal Greentech will subscribe to 38,000 equity shares of AED 1,000 each, aggregating to AED 38 million, representing 95% of the subsidiary's paid-up capital. Shael Oswal will subscribe to 2,000 equity shares of AED 1,000 each, aggregating to AED 2 million, representing ...