SWELECT to acquire 100 percent of Dexler Solar Park Phase 1 as wholly owned subsidiary
SWELECTES · price
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Awaiting price reaction for this filing.
SWELECT Energy Systems board approved acquiring 100 percent (10,000 equity shares) of Dexler Solar Park Phase 1 Pvt Ltd (DSPP1) for cash up to Rs 1 Lakh. DSPP1, a Karnataka-based renewable energy firm, will become a wholly owned subsidiary and plans to set up a 7.0 MWdc solar power plant under the group captive scheme. Target had nil turnover in last 3 FYs and negative net worth of about Rs 6.45 lakh.
Expands SWELECT's solar footprint in Karnataka via WOS. Acquisition cost is tiny (under Rs 1 Lakh) on a loss-making shell, but adds 7 MWdc captive capacity. Neutral to mildly positive.