Insolation Energy Limited invests in subsidiary

Insolation Energy Limited has subscribed 20,00,000 (Twenty Lakh) equity shares of Rs. 10/- each aggregating to Rs. 2,00,00,000 (Rupees Two Crore) on a rights basis ("Rights Issue") in its material Wholly-owned subsidiary i.e. M/s Insolation Green Energy Private Limited (IGEPL), for cash.

Post allotment of shares, Insolation Green Energy Private Limited shall continue to be a material wholly-owned subsidiary of the Company.

IGEPL was incorporated on August 28, 2021 by our Company as our Wholly Owned Subsidiary with its registered office at K No. 766/02, Village - Bagwada Tehsil-Amer, Jaipur, Rj- 303805, India, with an object of setting up solar PV module manufacturing unit. The commercial production is yet to commence as on the date.

Shares of Insolation Energy Limited was last trading in BSE at Rs. 121.55 as compared to the previous close of Rs. 126.25. The total number of shares traded during the day was 81000 in over 27 trades.

The stock hit an intraday high of Rs. 125.00 and intraday low of 121.10. The net turnover during the day was Rs. 9989700.00.

Source : Equity Bulls

Keywords

InsolationEnergy INE0LGX01016 ElectricUtilities Investment Subsidiary InsolationGreenEnergy