H.G. Infra Engineering Limited has informed the Exchange regarding 'Incorporation of a Wholly Owned Subsidiary Company (WoS )'.
HGINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
H.G. Infra Engineering has incorporated a new wholly owned subsidiary named H.G. Choraniya Bess Private Limited as a Special Purpose Vehicle (SPV) on June 25, 2025. The SPV has been set up to develop Standalone Battery Energy Storage Systems (BESS) in Gujarat under the Tariff-Based Competitive Bidding (Phase-VI) process. The company has subscribed to 100% of the subsidiary's share capital at Rs. 15 lakhs (1.5 lakh equity shares of Rs. 10 each). The subsidiary has not yet commenced business operations, and the transaction is classified as a related party transaction since the SPV is entirely owned by H.G. Infra.
This marks H.G. Infra's diversification into the energy storage segment, complementing its core infrastructure business, and could create a new long-term revenue stream if the BESS project is awarded. Near-term impact is minimal given the small initial capital outlay, but shareholders should track future project awards and capital commitments for the SPV.