Swelect Energy Systems Limited — Board Meeting, 18-12-2024: Outcome of Board Meeting

The Board has approved the raising of funds through the issuance of up to 1,385 Secured, Unlisted, Rated, Redeemable, Non-Cumulative, Taxable, Non-Convertible Debentures (NCDs) with a face value of ₹10,00,000 each, totaling ₹138.5 Cr. Furthermore, a loan to SWELECT HHV Solar Photovoltaics Pvt. Ltd. will be converted into 4,000,000 Preference Shares for ₹40 Cr. The establishment of four wholly owned subsidiaries for solar power generation was also authorized, enhancing the company's strategic positioning in the renewable energy sector.