H.G. Infra Engineering’s Acquisition of H.G. Nayabera and H.G. Chanpura Solar Projects

On June 27, 2024, H.G. Infra Engineering Limited announced via a stock exchange filing that it established two new subsidiary companies, H.G. Nayabera Solar Project Private Limited and H.G. Chanpura Solar Project Private Limited.

The acquisition of H.G. Nayabera Solar Project Private Limited and H.G. Chanpura Solar Project Private Limited by H.G. Infra Engineering Limited is considered a Related Party transaction as these entities are subsidiaries of the Company.

Both subsidiaries were recently incorporated and operate in the Solar Power industry. As a newly established company, their acquisition has had no substantial impact on H.G. Infra Engineering Limited.

Acquisition Details

The acquisitions are done through cash consideration. The initial subscription involves ₹51,000 divided into 5,100 equity shares priced at ₹10 each by H.G. Infra Engineering Limited. Additionally, H.G. Solar Projects Private Limited, a wholly-owned subsidiary of H.G. Infra Engineering Limited, has subscribed ₹49,000 divided into 4,900 equity shares also priced at ₹10 each.

H.G. Nayabera Solar Project Private Limited and H.G. Chanpura Solar Project Private Limited each represent a 51% shareholding acquired by H.G. Infra Engineering Limited.

About Acquired Entities

H.G. Nayabera Solar Project Private Limited was incorporated on June 26, 2024, and H.G. Chanpura Solar Project Private Limited was incorporated on June 27, 2024, under the Companies Act 2013, with registered offices in Rajasthan, India.

H.G. Nayabera Solar Project Private Limited has an authorised, subscribed, and paid-up share capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each.

Similarly, H.G. Chanpura Solar Project Private Limited operates with an authorised, subscribed, and paid-up share capital of ₹1,00,000, divided into 10,000 equity shares of ₹10 each.

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 of roads, bridges, flyovers, and other infrastructure contract works.

On June 28, 2024, the share price of H.G. Infra Engineering Limited opened at ₹1,759.00, touching the day’s high at ₹1,793.90, as of 02:21 PM on the NSE.

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.