Board approves ESOP allotment and new wholly owned subsidiaries

Board & Shareholder Meetings View source PDF

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AI summary

Board met on July 6, 2026 and approved allotment of 28,943 equity shares of Rs 10 each under ESOP 2023 to eligible employees, raising paid-up equity capital to Rs 15.15 crore spread across 1,51,52,633 shares. Also approved incorporating wholly owned subsidiaries in India, including Zodiac Energy IPP-1 Private Limited, for solar power generation and EPC projects. Additionally approved a wholly owned subsidiary in Zambia, Africa, to explore international solar EPC opportunities.

Likely market impact

Minor ESOP dilution; new solar subsidiaries in India and Zambia signal domestic and international expansion plans supporting long-term growth.