Praveg incorporates new subsidiary for resort development

Praveg Limited officially announced the incorporation of its new wholly-owned subsidiary, Praveg Rannutsav Private Limited, on December 20, 2025. The new entity, registered in Ahmedabad, Gujarat, received its Certificate of Incorporation from the Ministry of Corporate Affairs, Government of India, on the same date. The subsidiary has an authorized capital of INR 1.00 Lakh and a paid-up capital of INR 1.00 Lakh.

Praveg Rannutsav Private Limited is established to engage in the construction, development, operation, and maintenance, including marketing of permissible components, of resort projects, specifically rooms and dormitories, at Dhordo, Kutch, Gujarat. The incorporation represents a strategic move to expand Praveg's core business in the hospitality sector.

The acquisition cost for the wholly-owned subsidiary amounted to INR 1,00,000, representing 100% of the shareholding. As of its incorporation date, the subsidiary has no turnover or net worth. The new entity will operate entirely within India, with its registered office at 1801, Westport, Opp. Montecristo Banquet, Sindhu Bhawan Road, Thaltej, Ahmedabad.