Announced Sat, 25 Jul · 15:22 IST
SWELECT to acquire 100% stake in Dexler Solar Park Phase 1
SWELECTES · price
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Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
SWELECT Energy Systems will acquire 100% equity in Dexler Solar Park Phase 1 Private Limited (DSPP1) for up to Rs. 1 lakh in cash. DSPP1 will become a wholly owned subsidiary and set up a 7 MWdc solar power plant under group captive scheme in Karnataka. The target had nil turnover for the last 3 years and negative net worth of Rs. 6.45 lakh. Not a related party deal. Aimed at boosting consolidated turnover and strengthening presence in Karnataka.
Likely market impact
Low-cost acquisition adds 7 MWdc solar capacity and Karnataka presence, potentially lifting consolidated turnover over time.