Announced Thu, 25 Jun · 21:43 IST
Swelect subsidiary to acquire 49% stake in Gridnex Solar for Rs 4.31 crore
SWELECTES · price
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Price reaction · full curve 14 horizons · vs prior close
+4.3%1-day move
₹621.30
prior close
₹614.65
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+2.0+2.1+3.7+4.3+4.3+2.5+2.4+4.8+3.8-1.8-1.1———
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AI summary
Swelect Energy Systems' wholly owned subsidiary SWELECT SolarKraft will acquire 49% (4,900 shares at Rs 10 face value) in Gridnex Solar Power for Rs 4.31 crore in cash. Gridnex Solar, incorporated in March 2026 in Haryana, is setting up 80 MW (8x10 MW) grid-connected solar PV plants under PM KUSUM-C scheme for sale to MPPMCL. Target is pre-revenue with nil turnover. Apollo Green Energy will remain majority shareholder with no change of control.
Likely market impact
Minority acquisition with no control change. Pre-revenue target, but aligns with solar expansion. Limited immediate financial impact.