24-Sept-2026 22:13:23
SWELECTESAcquisition and merger
SWELECT ENERGY SYSTEMS LIMITED: ACQUIRES 100% EQUITY SHARES OF GNU SOLAR ASSETCO TWO PRIVATE LIMITED; ADDITIONAL INVESTMENT IN USOLAR ASSETCO FOUR PRIVATE LIMITED
• SWELECT will acquire 100% equity shares of GNU Solar Assetco Two Private Limited for ₹10 lakhs. • Investment committee approved additional investment in USolar Assetco Four Private Limited (Wholly Owned Subsidiary) up to ₹20.76 Cr for a 26.6 MWp DC solar power plant. • Post-investment, SWELECT's shareholding in USolar Assetco will be 74% (subject to allotment to other investors). • Both USolar Assetco Four and GNU Solar Assetco Two are incorporated in June/July 2026, are yet to commence operations, and have negligible financial parameters. • The acquisitions fall under related party transactions.
Swelect Energy Systems Limited
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