H.G. Infra Shares Gain 2%; Completes Acquisition of H.G. Jetpur Solar Project

H.G. Infra Engineering completes the acquisition of H.G. Jetpur Solar Project for ₹2.84 crore, acquiring 2.84 million equity shares, as part of its strategy to expand into the solar power sector.

Details of the Acquired Entity and Acquisition Process

H.G. Jetpur Solar Project Private Limited, incorporated on June 23, 2024, in Rajasthan, aims to expand its business in the solar power sector. The target company has an authorised capital of ₹2.90 crore, with a paid-up capital of ₹1 lakh, but it has yet to commence operations.

This acquisition falls within the category of related party transactions, and the transaction was completed on December 23, 2024. No regulatory approvals were required for this acquisition, H.G. Infra Engineering said in a press release on the stock exchanges.

H.G. Infra Subsidiary Signs Energy Storage Deal with NTPC

In another deal, H.G. Banaskantha Bess Private Limited, a wholly-owned subsidiary of H.G. Infra Engineering, entered into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam Limited, the company said in a separate press release on the stock exchanges.

The agreement, signed on December 23, 2024, is for the procurement of 185 MW/370 MWh of battery energy storage on a long-term basis. This development follows the earlier announcements made on November 22, 2024, and December 3, 2024.

Share Price Performance

On December 24, 2024, H.G. Infra Engineering’s share price traded 2.8% higher at ₹1,500.40 at 12:10 PM on the NSE, after opening at ₹1,486.65, higher than its previous close of ₹1,459.55.

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