H.G. Infra Engineering Acquires Stake in Subsidiary for Business Expansion
H.G. Infra Engineering Limited announced an investment of Rs. 48,52,00,000 in its wholly owned subsidiary, H.G. Banaskantha Bess Private Limited, through a rights issue. The acquisition was completed on March 23, 2026.H.G. Banaskantha Bess Private Limited, incorporated on December 3, 2024, is involved in battery energy storage systems. The company's authorized capital is Rs. 79,02,000, with a subscribed and paid-up share capital of Rs. 15,00,000. It reported nil turnover as of March 31, 2025.
The investment, in the form of cash consideration, resulted in the acquisition of 6,40,200 equity shares at an issue price of Rs. 758 per share, including a face value of Rs. 10 per share.
H.G. Infra Engineering stated that the acquisition is intended to support the company's business expansion. As a wholly-owned subsidiary, H.G. Banaskantha Bess Private Limited is considered a related party transaction. Governmental or regulatory approvals were not required for the acquisition.
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