CG Power and Industrial Solutions Limited — Important, 17-01-2025: Updates

CG Power has entered into a Fiscal Support Agreement with the India Semiconductor Mission and its subsidiary, CG Semi Private Limited, for the establishment of an Outsourced Semiconductor Assembly and Test (OSAT) facility. This project is backed by a significant subsidy of up to ₹3,501 crores aimed at enhancing semiconductor capabilities in India. The execution of this agreement marks a crucial step in the company’s strategic direction, positioning it to leverage the growing demand for semiconductor solutions. This development could positively impact CG Power's operational capacities and market competitiveness in the semiconductor sector. Investors should watch closely for further updates on project timelines and execution progress.