Australian Premium Solar (India) Limited — Updates, 17-12-2024: Press Release

Australian Premium Solar (India) Limited is making significant strides in the renewable energy sector through strategic expansions and a planned capital increase. The company intends to acquire a 51% stake in Aplus Solar Cell Private Limited, which focuses on manufacturing TOPCon and monocrystalline solar cells. This subsidiary is still in the initial phase, with operations slated to commence shortly. Additionally, a new wholly-owned subsidiary is expected to support existing operations, with incorporation planned by March 31, 2025.

To fuel this expansion, APS plans to raise its authorized share capital from ₹20 crore to ₹22 crore, offering up to 3,83,500 equity shares at ₹527 each and 94,750 fully convertible warrants to promoters. This move aims to enhance financial strength and position the company to capture the growing solar market effectively. The Chairman emphasized that this strategic backward integration is timed to leverage the robust demand for solar technology, positioning the company for significant growth and value creation in this high-potential sector.