Teerth Gopicon Limited — Important, 27-01-2025: Updates

Teerth Gopicon Limited has incorporated a subsidiary named Teerth RE 1 Private Limited as a Special Purpose Vehicle (SPV) to execute a project awarded by Rajasthan Renewable Energy Corporation Ltd. The new entity has an authorized and paid-up share capital of Rs. 1,00,000, consisting of 10,000 equity shares at Rs. 10 each. Currently, the turnover is nil as the subsidiary has yet to commence operations. Teerth Gopicon holds 99% of the initial subscription in cash, positioning it as a related party. The subsidiary aims to design, supply, erect, test, and maintain rooftop solar photovoltaic power projects for government buildings in Rajasthan. Although incorporated recently, there are no immediate impacts on Teerth Gopicon’s operations, making this a noteworthy opportunity in the renewable energy sector. Investors should monitor this development closely for future growth potential.