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H.G. Infra Engineering Establishes Solar Subsidiaries: Regulatory Disclosure

24 June 20243 mins read by Angel One
H.G. Infra Engineering Limited discloses incorporation of H.G. Rajlani Solar Project Pvt. Ltd. and H.G. Barni Solar Project Pvt. Ltd. under SEBI regulations.
H.G. Infra Engineering Establishes Solar Subsidiaries: Regulatory Disclosure
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On June 21, 2024, H.G. Infra Engineering Limited incorporated two subsidiary companies: H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited.

The acquisition of H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited by H.G. Infra Engineering Limited may constitute related party transactions since these companies are subsidiaries of H.G. Infra Engineering Limited. However, neither the promoters nor entities within the promoter group have any additional interests in H.G. Rajlani Solar Project Private Limited or H.G. Barni Solar Project Private Limited beyond the investment mentioned.

The details of the newly incorporated subsidiary companies are as follows: H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited have an authorised, subscribed, and paid-up share capital of ₹1,00,000 divided into 10,000 equity shares of ₹10 each.

Object Of Acquisition

H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited are engaged in the Solar Power industry. These acquisitions are intended to expand H.G. Infra Engineering Limited’s presence in renewable energy sectors, aligning with strategic diversification goals.

Details Of Acquisition

The acquisitions of H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited by H.G. Infra Engineering Limited were made through cash consideration. Initially, H.G. Infra Engineering Limited subscribed to ₹51,000 equity shares in each subsidiary, amounting to 5,100 equity shares of ₹10 each. This represents a 51% shareholding in both companies, acquiring majority control.

About H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited

H.G. Rajlani Solar Project Private Limited and H.G. Barni Solar Project Private Limited were incorporated on June 20, 2024, under the provisions of the Companies Act 2013, with its registered office in Rajasthan, India. These companies specialise in the solar power sector and aim to initiate operations in renewable energy projects.

About H.G. Infra Engineering Limited

H.G. Infra Engineering Limited (HGIEL) is an Indian company specialising in road infrastructure. It operates in Engineering, Procurement, and Construction (EPC) services and maintenance projects involving roads, bridges, flyovers, and other infrastructure contracts.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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