Solex Energy Limited has informed the Exchange about Incorporation of a Wholly owned subsidiary company
SOLEX · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Solex Energy Limited has incorporated a wholly-owned subsidiary named 'Solex New Energy Private Limited' on July 3, 2025, in Surat, Gujarat. The new subsidiary will focus on generating electric power using solar energy, manufacturing solar PV modules, and EPC (Engineering, Procurement, and Construction) services. The subsidiary has an authorized and subscribed capital of Rs 10 lakh, divided into 1 lakh equity shares of Rs 10 each, with Solex Energy holding 100% shareholding acquired at face value through cash consideration. The subsidiary is yet to commence business operations and falls within the same line of business as the parent company, making it a related party transaction.
This is a strategic expansion into solar power generation and module manufacturing, aligned with Solex Energy's core business. The subsidiary's small initial capital of Rs 10 lakh suggests minimal immediate financial impact, but it signals the company's growth ambitions in India's renewable energy sector, which could be positive for long-term shareholder value if the subsidiary scales up successfully.