Oswal Pumps Limited has informed the Exchange about Acquisition
OSWALPUMPS · price
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Oswal Pumps Limited's wholly owned subsidiary Oswal Solar Energy Private Limited has incorporated a new step-down subsidiary called Oswal Doon Baran Bundi Solar Projects Limited. Oswal Solar will hold 60% stake while Doon Infrapower Projects Private Limited will hold 40%. The new entity, incorporated on May 6, 2026, has a subscribed share capital of Rs. 1 lakh. It has been set up as a Special Purpose Vehicle (SPV) to execute a 33 MW Rooftop Solar Photovoltaic Power Project on State Government buildings in Rajasthan under Hybrid Annuity Mode (HAM). The project is pursuant to a Letter of Award issued by Rajasthan Renewable Energy Corporation Limited dated March 30, 2026. The acquisition cost is Rs. 60,000 for 6,000 equity shares.
This acquisition strengthens Oswal Pumps' presence in the renewable energy segment through a government-backed solar project. The stock may see positive sentiment given the strategic expansion into solar EPC with a confirmed government order, though the financial impact is currently minimal given the early stage of operations.