Sahaj Solar Limited's Subsidiary Increases Capital in Abu Dhabi Joint Venture
Sahaj Solar Limited has provided an update regarding the capital structure of its joint venture entity established in Abu Dhabi, UAE. The company's subsidiary will infuse additional funds into the joint venture to maintain its ownership stake.The action follows the prior announcement concerning the establishment of a Joint Venture (JV) in Abu Dhabi, UAE. This JV is named Sahaj Energy Solar Panels Manufacturing - L.L.C and was incorporated by Sahaj Renewable Energy Trading -FZCO, a wholly owned subsidiary of Sahaj Solar Limited.
In light of developments within the venture, Sahaj Solar Limited has announced that the capital of the joint venture is being further increased beyond the initial amount disclosed. To sustain its 50% shareholding in the JV, the subsidiary, Sahaj Renewable Energy Trading -FZCO, will infuse additional funds.
The funding infusion from Sahaj Renewable Energy Trading -FZCO amounts to AED 75,000. This strategic capital increase ensures the continued operational strength of the joint venture as it advances its operations in Abu Dhabi.
SAHAJSOLAR Stock Price Movement
Today, shares of Sahaj Solar Limited shed 3.63%, settling at ₹131.40 after closing lower by ₹4.95. The stock traded a total volume of 10,000 shares during the 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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