Belrise Industries Limited’s Board of Directors has approved the incorporation of a Special Purpose Vehicle (SPV) under Section 8 of the Companies Act, 2013. This SPV will focus on the promotion of vocational education through the upgradation and management of ITIs under the PM SETU Project. The proposed SPV will operate as a subsidiary of Belrise Industries, with the company holding a 51% stake.
Belrise Industries Approves New Vocational Education SPV
In a significant strategic move, the Board of Directors at Belrise Industries Limited has given its approval for the incorporation of a new Special Purpose Vehicle (SPV). This decision, made on Friday, November 13, 2026, marks the company’s commitment to expanding its social impact initiatives, particularly in the realm of education.
Charitable Objective and Project Focus
The proposed SPV will be established under Section 8 of the Companies Act, 2013, emphasizing its role as a non-profit entity with a charitable objective. Its primary focus will be the promotion of vocational education. This will be achieved through the crucial upgradation and management of Industrial Training Institutes (ITIs) as part of the government’s PM SETU Project. The SPV is intended to be a subsidiary of Belrise Industries Limited.
Shareholding and Investment Details
As per the disclosure, Belrise Industries Limited will hold a controlling stake of 51% in the newly formed SPV. The shares will be subscribed for at a face value of Rs. 10 each, representing a cash consideration for the investment. The incorporation is contingent upon receiving necessary approvals from the Ministry of Corporate Affairs (MCA) and other relevant statutory and regulatory authorities.
Future Outlook
This initiative underscores Belrise Industries’ dedication to corporate social responsibility and its strategic vision to contribute to skill development and vocational training in India. Further updates regarding the SPV’s formal incorporation and operational details will be provided as they become available.
Source: BSE
