Navratna PSU NBCC Shares Surge 4.5% on Business Updates: What You Need to Know
Navratna PSU NBCC shares jumped 4.5% in intraday trading on Monday, driven by significant business updates, including a resolution plan for a Ghaziabad project and the incorporation of a subsidiary in Dubai. Here are the details.
NbccShare PriceStock MarketReal EstateDubaiReal Estate NewsMay 19, 2025
Navratna PSU NBCC Business Updates
Navratna PSU NBCC Resolution Plan for Red Mall Ghaziabad
On May 17, 2025, Navratna PSU NBCC informed about a resolution plan submitted by the company in the insolvency Resolution Process of a city mall project. In its release on the exchanges, NBCC India Ltd stated, 'NBCC has submitted the Resolution Plan with respect to Corporate Insolvency Resolution Process (CIRP) of M/s Celebration City Projects Private Limited, Ghaziabad (RED Mall) on May 17, 2025.'
Navratna PSU NBCC Incorporation of a Wholly Owned International Subsidiary
On Friday, May 16, 2025, post-market hours, NBratna PSU NBCC informed the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) about the incorporation of a wholly owned subsidiary in Dubai. According to the release by NBCC India, 'this is to inform that M/s NBCC Overseas Real Estate LLC has been incorporated as Wholly Owned Subsidiary of NBCC (India) Limited in Dubai Mainland, UAE.'
Referring to the objectives of the development, Navratna PSU NBCC said that the company has been incorporated for buying and selling of real estate in Dubai Mainland, UAE.
Navratna PSU NBCC - Approval Status for the Dubai Subsidiary
Regarding the regulatory approvals required for the acquisition, NBCC India stated that the Department of Investment and Public Asset Management (DIPAM) reiterated their earlier approval for setting up a wholly owned subsidiary of NBCC in Dubai via their OM dated February 24, 2025. However, the RBI-ODI approval is still awaited.
As per NBCC (India), the company is newly incorporated with the object of executing the real estate business in mainland Dubai, initially for buying and selling real estate.
Navratna PSU NBCC Share Price Movement
NBCC shares opened at ₹112.78 on the BSE on Monday and were higher than the previous day's closing price of ₹111.11. The NBCC India share price surged further to intraday highs of ₹116.13, marking gains of more than 4.0% (4.5%).
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Frequently Asked Questions
What is the latest update on NBCC shares?
NBCC shares surged 4.5% in intraday trading on Monday, driven by significant business updates, including a resolution plan for a Ghaziabad project and the incorporation of a subsidiary in Dubai.
What is the resolution plan submitted by NBCC?
NBCC submitted a resolution plan for the insolvency resolution process of the Red Mall project in Ghaziabad on May 17, 2025.
What is the new subsidiary of NBCC in Dubai?
NBCC has incorporated a wholly owned subsidiary, NBCC Overseas Real Estate LLC, in Dubai Mainland, UAE, for buying and selling real estate.
What regulatory approvals are required for the Dubai subsidiary?
The Department of Investment and Public Asset Management (DIPAM) has approved the setting up of the subsidiary, but the RBI-ODI approval is still awaited.
What was the intraday high for NBCC shares on Monday?
NBCC shares reached an intraday high of ₹116.13 on Monday, marking gains of more than 4.0% (4.5%).
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