Further to our earlier intimation dated 14th February, 2025, and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we would like ....
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Insolation Energy has incorporated a new subsidiary called MGVI Green Infra Three Private Limited, which received its Certificate of Incorporation on 21st April 2025. The new entity will focus on solar power plant development, rooftop solar (RTS) photovoltaic projects, and renewable energy consultancy. Insolation Energy will hold 60% equity in the subsidiary, while its two promoters — Mr. Vikas Jain and Mr. Manish Gupta — will each hold 20%. The initial subscription amount is just Rs 1 lakh, with an authorized share capital of Rs 1 lakh divided into 10,000 equity shares of Rs 10 each. This is classified as a related party transaction because of the promoters' direct stake in the new entity.
This move signals the company's intent to expand its solar and renewable energy footprint, but the very small initial capital outlay (Rs 1 lakh) suggests the subsidiary is being set up as a vehicle for future, larger projects rather than an immediate revenue contributor. The related party structure with promoter participation may attract governance scrutiny from minority shareholders.