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's wholly-owned subsidiary H.G. Green Energy Private Limited has transferred 26% of its stake in each of four newly incorporated solar project SPVs (Hingoli, Ramsagar, Bachasar, Bapini) to Stockwell Solar Services Private Limited (SSSPL), a solar specialist founded by IITians. As a result, these four SPVs will cease to be wholly-owned subsidiaries but will remain subsidiaries of H.G. Infra. The consideration is nominal — Rs. 26,000 per company (face value of shares) — since all four entities were newly incorporated in FY 2024-25 with nil revenue or net worth. SSSPL is not part of the promoter or group companies, and the transaction is not a related party transaction. The share transfer is pursuant to a Letter of Award dated March 18, 2024, with completion expected on or before April 9, 2025.
This is a strategic partnership to bring in solar execution expertise for H.G. Infra's renewable energy foray. The financial impact is negligible given the nominal consideration and zero revenue base of the SPVs, but it could add long-term value if SSSPL's solar expertise helps execute these projects successfully.