H.G. Infra Engineering Limited has informed the Exchange regarding 'Intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015'.
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 Limited has invested a total of Rs. 8.53 crore across its four wholly-owned solar power subsidiaries by subscribing to their rights issue. The investments include Rs. 1.89 crore in H.G. Dhingsari Solar Project, Rs. 2.84 crore in H.G. Hingoli Solar Project, Rs. 1.90 crore in H.G. Bachasar Solar Project, and Rs. 1.90 crore in H.G. Ramsagar Solar Project. All four subsidiaries are recently incorporated entities in Rajasthan focused on solar power generation, and none have commenced business operations yet. The company stated the investment is aimed at business expansion and setting up solar power plants. Since these are subsidiaries, the transactions qualify as related party transactions, though they were done on an arm's length basis.
This is a capital infusion into the company's own subsidiaries to set up solar power projects, signalling a diversification push beyond its core road infrastructure business. For shareholders, this represents a small, strategic allocation (around Rs. 8.53 crore) toward a new business vertical, with no immediate revenue impact as the subsidiaries are pre-operational.