Saatvik Green Energy Limited has informed the Exchange about Agreements
SAATVIKGL · price
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Saatvik Green Energy's material subsidiary, Saatvik Solar Industries Private Limited, has entered into a 99-year lease deed with MP Industrial Development Corporation Limited for 185 acres of land (approx. 7.48 lakh sq.mt.) in a designated Power and Renewable Energy Equipment Manufacturing Zone at Mohasa–Babai, District Narmadapuram, Madhya Pradesh. The total consideration for the lease is INR 11.17 Crores, excluding applicable charges and duties. The company has stated the purpose is to support future capacity expansion and create operational synergies with its existing facility, aligning with its long-term growth strategy. The transaction is not a related party transaction, and no special rights such as board appointments or share subscription rights are involved.
This is a positive development for shareholders as it signals a major long-term capacity expansion plan in the solar and renewable energy equipment manufacturing space, which could support future revenue and order book growth. The 99-year lease tenure indicates a deep, long-term commitment to scaling operations in Madhya Pradesh.