This is to inform you that the Company has received Capital Subsidy / Fiscal Support Incentive of Rs.32.56 Crores on 1st September, 2025 from the Govt. of Odisha for Phase I - Silicon Carbide ....
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RIR Power Electronics has received a capital subsidy of Rs. 32.56 Crores from the Government of Odisha on 1st September 2025. The incentive is specifically for Phase I of the company's Silicon Carbide (SiC) manufacturing plant in Bhubaneswar, Odisha. This indicates the company is advancing its SiC manufacturing capabilities with state government support. The SiC plant is part of the company's strategic move into semiconductor-related power electronics manufacturing.
Positive for shareholders — the Rs. 32.56 Cr subsidy reduces the effective cost of the SiC plant investment, improving project economics and cash flows. It also signals government backing for the company's expansion, which could support faster Phase I execution and future phases.