H.G. Infra Engineering Limited Establishes Solar Power Subsidiaries

On 30 May 2024, H.G. Infra Engineering Limited announced that it had established 3 new subsidiary companies: H.G. Bikaner Solar Project Private Limited, H.G. Nokha Solar Project Private Limited, and H.G. Bhopalgarh Solar Project Private Limited.

Each company has an authorised, subscribed, and paid-up share capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each. As these companies are newly established, their turnover is not applicable, as they have yet to commence business operations. The investment in these subsidiaries may be considered a related party transaction since they are subsidiaries of H.G. Infra Engineering Limited.

H.G. Bikaner Solar Project Private Limited, H.G. Nokha Solar Project Private Limited, and H.G. Bhopalgarh Solar Project Private Limited have been established to operate in the field of solar power. Since these are newly incorporated companies, there is no immediate impact on H.G. Infra Engineering Limited.

Mr Vaibhav Choudhary and Ms Nisha Singh are H.G. Bikaner Solar Project Private Limited’s promoter group directors.

For H.G. Nokha Solar Project Private Limited, the directors Mr. Harshvardhan Singh and Ms. Ridhima Choudhary, are part of the promoter and promoter group of the Company.

Similarly, for H.G. Bhopalgarh Solar Project Private Limited, the directors, Mr Girish Pal Singh and Ms Ridhima Choudhary, also belong to the promoter and promoter group of the Company.

Cost of Acquisition

The initial subscription to the share capital for each of the subsidiary companies—H.G. Bikaner Solar Project Private Limited, H.G. Nokha Solar Project Private Limited, and H.G. Bhopalgarh Solar Project Private Limited is ₹51,000, divided into 5,100 equity shares of ₹10 each. H.G. Infra Engineering Limited has acquired 51% of the shareholding.

Brief Background About the Entities

H.G. Bikaner Solar Project Private Limited, H.G. Nokha Solar Project Private Limited, and H.G. Bhopalgarh Solar Project Private Limited were all incorporated on May 27, 2024, under the provisions of the Companies Act, 2013, with their registered offices located in the State of Rajasthan. They received their Certificates of Incorporation on May 29, 2024.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.