Oswal Greentech puts ₹90 cr into Dubai real estate subsidiary
Board approves AED 40 million investment for a wholly owned Dubai subsidiary as the micro-cap's internal auditor resigns with immediate effect.
— 2 earlier stories on Oswal Greentech Ltd. →What's new
- Oswal Greentech board approved a Dubai subsidiary for residential and commercial real estate, with ₹90 cr initial investment.
- Internal auditor Siddharth S. Kothari & Co. resigned immediately, citing personal reasons.
- The subsidiary investment equals 14.6% of the company's ₹614 cr market cap.
Why this matters
For a micro-cap with trailing sales of just ₹11 cr and a recent ₹101 cr provision, a ₹90 cr overseas bet is a bold capital allocation. The simultaneous auditor exit adds to governance noise, but the move signals a potential pivot to international real estate.
What we're watching
- Regulatory approvals needed for the Dubai subsidiary.
- Any explanation from the company on the auditor resignation pattern.
- Next quarter's cash flow and debt levels given this large outlay.
The full read
Oswal Greentech's board has signed off on a ₹90 crore (AED 40 million) wholly owned subsidiary in Dubai to develop residential and commercial properties. For a company with a market cap of just ₹614 crore, this is a bet equal to 14.6% of its equity value — a huge strategic shift into international real estate. The timing is notable: the internal auditor, Siddharth S. Kothari & Co., resigned with immediate effect, citing personal reasons. That follows a CFO exit in June and a ₹101 crore provision in May that triggered an auditor flag. The Dubai plan is subject to regulatory approvals, but the board's commitment is firm. The open question is whether the company can execute this pivot while managing the governance overhang.
Questions answered
- How much is Oswal Greentech investing in the Dubai subsidiary?
- The board approved an initial investment of AED 40 million, approximately ₹90 crore, with Oswal Greentech subscribing to 95% of the equity.
- What will the Dubai subsidiary do?
- It will develop residential and commercial properties in Dubai, UAE, marking Oswal Greentech's entry into international real estate.
- Is this investment material for the company?
- Yes, the ₹90 crore outlay is about 14.6% of the company's ₹614 crore market cap, a highly material commitment for a micro-cap.
- What governance changes are happening at Oswal Greentech?
- The internal auditor resigned with immediate effect citing personal reasons, adding to recent departures including the CFO's exit in June and a Rs 101 crore provision flagged in May.
Oswal Greentech Ltd.
Latest quarter · Mar 2026
Leverage & growth
Story so far
All notes on OSWALGREEN →- 22 Jun 2026 · 8:16 PM IST Oswal Greentech puts ₹90 cr into Dubai real estate subsidiary
- 20d ago Oswal Green CFO quits after months in role
- 27d ago Oswal Greentech posts ₹62.4 cr loss after ₹101.2 cr provision and auditor flag