H.G. Infra Engineering Limited — Important, 27-12-2024: Updates

H.G. Infra Engineering Limited's wholly-owned subsidiary, H.G. Green Energy Private Limited, has transferred a 26% stake in several solar project subsidiaries to Stockwell Solar Services Private Limited. The affected entities include H.G. Belarwa, Bhopalgarh, Bilara, Hemera, and Mangeriya Solar Project Private Limited. Following this transfer, although the subsidiaries are no longer wholly owned, they remain part of the company's portfolio.

The shares sold comprised 2,600 equity shares at ₹10 each, amounting to a total consideration of ₹26,000 in cash. The shares are expected to be credited to the buyer's account by January 1, 2025. Stockwell Solar Services, established by IIT graduates in 2017, is noted for its expertise in solar OPEX/RESCO and CAPEX models, and it does not belong to H.G. Infra's promoter group. The transaction does not classify as related party dealings, indicating robust governance practices. Keep an eye on this development as it reflects H.G. Infra's strategic positioning in the renewable energy sector.