Announced Mon, 6 Jul · 16:44 IST
Board approves ESOP allotment and new wholly owned subsidiaries in India and Zambia
Strategic Transactions View source PDF
ZODIAC · price
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₹267.70
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AI summary
Zodiac Energy board approved allotment of 28,943 equity shares under ESOP 2023, raising paid-up capital to about Rs. 15.15 crore from Rs. 15.12 crore. It also cleared incorporation of one or more wholly owned subsidiaries in India, including Zodiac Energy IPP-1 Private Limited, for solar power and EPC projects, plus one wholly owned subsidiary in Zambia for solar EPC work in Africa. All new entities will be fully owned by Zodiac Energy.
Likely market impact
Marginal equity dilution from ESOPs; new subsidiaries aim to boost solar EPC business and enter Africa, supporting long-term growth.