Announced Mon, 6 Jul · 19:37 IST
Board approves new renewable energy subsidiary, seeks borrowing powers via postal ballot
Strategic Transactions View source PDF
OMPOWER · price
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Price reaction · full curve 14 horizons · vs prior close
-3.3%1-day move
₹177.40
prior close
₹179.17
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AI summary
Om Power Transmission's board approved incorporating a new wholly-owned subsidiary, OPTL Green Energy Private Limited, in India's renewable energy sector covering solar, wind, hydro, biomass, and energy storage. The company will hold 56 percent equity by subscribing to 5,600 shares of Rs 10 each. Separately, the board approved a postal ballot for two special resolutions: borrowing beyond paid-up capital and free reserves, and creating charge on company assets up to Rs 1,000 crores.
Likely market impact
Signals expansion into renewables and seeks up to Rs 1,000 crore borrowing headroom, which could fund growth but also raise debt levels.