Lakshmi Electrical Control Systems to Create Subsidiary and Form Consortium Targeting EV Charger Manufacturing Tender
Lakshmi Electrical Control Systems Ltd has undertaken strategic moves in the electric vehicle (EV) charging sector, announcing plans to incorporate a subsidiary company and enter into a consortium arrangement with BIEMSYS Private Limited. These steps are preparatory measures for a tender floated by New & Renewable Energy Development Corporation of Andhra Pradesh Limited concerning the manufacturing of EV Chargers and the establishment of public EV Charging Stations.The company's Finance and Operations Committee approved these initiatives following a Board meeting held on July 08, 2026. The incorporation of the subsidiary is intended to address the needs of the electrical vehicle charger industry. The new entity is planned to be incorporated as a subsidiary of Lakshmi Electrical Control Systems Ltd, with its purpose being the manufacturing of EV Chargers and establishing charging stations upon successfully receiving the tender award.
Details regarding the proposed subsidiary are outlined below:
| Particulars | Details |
|---|---|
| Industry Segment | Electrical Vehicle Chargers |
| Initial Investment Cost | Rs. 51,000/- towards equity share capital |
| Shareholding Planned by Company | 51% of the equity share capital |
| Status and Purpose | Incorporation pending successful tender award; manufacturing EV chargers and establishing charging stations. |
Furthermore, Lakshmi Electrical Control Systems Ltd is entering into a consortium agreement with BIEMSYS Private Limited in preparation for the EV charger manufacturing tender application. The scope of the collaboration includes the establishment of electric vehicle charge stations. This domestic arrangement outlines a share ratio of 51:49 between the partners.
The proposed new company, which will be incorporated under this venture, is expected to have an initial paid-up share capital of Rs. 1,00,000/- in which Lakshmi Electrical Control Systems Ltd will hold 51% of the total paid-up equity share capital. The rationale for forming this consortium is to create visibility and impact within the EV Chargers segment.
Key details pertaining to the Consortium Arrangement are provided below:
| Particulars | Details |
|---|---|
| Partnering Entity | BIEMSYS Private Limited |
| Scope of Operation | Manufacturing of Electric Vehicle (EV) Chargers and establishment of EV Charging stations. |
| Share Ratio in Venture | 51:49 |
| Consideration Received by Company | Nil |
| Commitment Condition | The arrangement is conditional on the successful award of the tender to Lakshmi Electrical Control Systems Ltd. |
The company confirmed that both the incorporation process of the subsidiary and the implementation of the consortium terms will only proceed upon a successful award of the relevant tender by New & Renewable Energy Development Corporation of Andhra Pradesh Limited.
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