Rudra Gas Enterprise Increases Investment in Subsidiary Rudra Global Green Energy
Rudra Gas Enterprise Limited has increased its investment stake in its subsidiary, Rudra Global Green Energy Private Limited, through a recent allotment of equity shares. The further investment amounts to Rs. 3,50,00,000/- (Three Crores Fifty Lakhs Only).The investment was made by allotting 35,00,000 fully paid-up Equity shares of Rudra Global Green Energy Private Limited at a face value of Rs. 10/- per share. This transaction constitutes a further investment into the subsidiary company, which is engaged in various aspects of renewable energy and solar technology.
The capital structure of the subsidiary saw changes following this allotment. Before the transaction, the pre-issue paid-up capital of Rudra Global Green Energy Private Limited was Rs. 1,00,000/-. Post-allotment, the paid-up capital stands at Rs. 6,88,00,000/-, while the company reported a turnover of Rs. 3,22,44,157/- as of March 31, 206.
The investment by Rudra Gas Enterprise Limited in the subsidiary is categorized as a related party transaction. The Company confirmed that its interest in the transaction was limited only to its shareholding and that the investment was executed at arm's length. The purpose of this capital infusion is for the execution of the Company’s existing and future tenders.
The core business of Rudra Global Green Energy Private Limited spans manufacturing, trading, importing, storing, and distributing various solar and renewable energy products. These include solar water heaters, water eating systems, and advanced energy plants. The company also focuses on sustainable practices such as windmill, heat, solar, hydro, wave, tidal, ocean, geothermal, biomass, and hydrogen technology.
The shareholding pattern of Rudra Gas Enterprise Limited in the subsidiary prior to the transaction was 51% of Equity Shares. Following the allotment of 35,00,000 fully paid-up Equity shares, Rudra Gas Enterprise Limited's shareholding now stands at 50.95%.
Investment and Entity Details Summary
| Particulars | Pre-transaction Status | Post-transaction Status / Details |
|---|---|---|
| Target Entity Name | N/A | Rudra Global Green Energy Private Limited |
| Nature of Entity | N/A | Subsidiary |
| Pre-issue Paid-up Capital | Rs. 1,00,000/- | N/A |
| Post-allotment Paid-up Capital | N/A | Rs. 6,88,00,000/- |
| Turnover (as on 31/03/206) | N/A | Rs. 3,22,44,157/- |
| Rudra Gas Shareholding | 51% | 50.95% |
| Transaction Nature | N/A | Related Party Transaction (Arm's Length) |
Stock Price Movement
Trading closed for Rudra Gas Enterprise Ltd on Monday, with shares settling at ₹72.00 following a 1.37% decline. This price movement saw the stock oscillate throughout the session, trading within an intraday range established by a low of ₹69.20 and a high of ₹72.00.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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