Prakash Pipes Ltd Completes Investment in BECIS Solar 3, Securing 26% Stake
Prakash Pipes Limited has successfully finalized its investment in BECIS Solar 3 Private Limited (BECIS) through a right issue, solidifying its stake in the solar power venture. The acquisition is aligned with requirements for developing and constructing a solar power project intended to supply power to Prakash Pipes Ltd.The company allotted 130,23,152 fully paid-up equity shares of BECIS on June 9, 2026. These shares have a face value of ₹1/- each.
Following the allotment, Prakash Pipes Ltd has invested a total amount of ₹1,30,23,152 in BECIS. This investment ensures that the company maintains a 26% shareholding in the issued and paid-up equity capital of BECIS, fulfilling the requirements for the solar project development.
The key details of the transaction are summarized below:
| Detail | Value |
|---|---|
| Total Shares Allotted | 130,23,152 |
| Face Value Per Share | ₹1/- |
| Total Investment Amount | ₹1,30,23,152/- |
| Current Equity Stake in BECIS | 26% |
PPL Stock Price Movement
As of 2:58 PM, shares of Prakash Pipes Limited are rallying, climbing 0.59% in live trading after gaining ₹1.42 to reach ₹240.85. The stock has seen 262,015 shares traded, demonstrating steady buying interest during the current market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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