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MITCON Consultancy & Engineering Services Limited has announced a board meeting where it received approval to acquire a 49% stake in MINVEN Solar 01, Solar 02, and Solar 03 Private Limited, aimed at enhancing its solar asset portfolio under the PM-KUSUM scheme. The acquisitions will be finalized within 60 business days for a total cash investment of ₹2.94 lakh (₹98,000 for each entity). Additionally, the Board has approved a Postal Ballot Notice to seek shareholder approval for several governance matters, including the appointment of an Independent Director and increasing borrowing limits. This strategic move may signal a positive outlook for investor sentiment, driven by the growing solar sector's potential.
All announcements from MITCON Consultancy & Engineering Services Limited