RIR Power Electronics Ltd — Updates, 07-08-2025: Company Update

Ref. RIR/SEC/13791/2025 7th August, 2025

Bombay Stock Exchange Limited

Corporate Relationship Department,

1st Floor, Rotunda Building,

P. J. Towers, Dalal Street,

Mumbai-400001

Scrip Code : 517035

Sub.: Submission of Press Release

Dear Sir/Madam,

With reference to the above subject, please find enclosed herewith Press Release on the

subject “Government of Odisha approves fiscal support for Phase 1 of RIR Power

Electronics’ Silicon Carbide (SiC) semiconductor plant in Bhubaneswar”.

Kindly take the same on record.

Thanking you.

Yours faithfully,

For RIR POWER ELECTRONICS LIMITED

BHAVIN P RAMBHIA

COMPANY SECRETARY

Encl : a/a

----------------Page (0) Break----------------

BSE: 517035 | SECTOR: Power Electronics, Semiconductor

PRESS RELEASE

Government of Odisha approves fiscal support for Phase 1 of RIR Power

Electronics’ Silicon Carbide (SiC) semiconductor plant in Bhubaneswar

August 7, 2025: The Electronics & Information Technology Department, Government of Odisha, has

approved fiscal support for Phase 1 for RIR Power Electronics Limited towards its Silicon Carbide (SiC)

semiconductor manufacturing facility in Odisha. Odisha Computer Application Center (OCAC), the nodal

agency for Electronics & Information Technology Department, Government of Odisha has approved and

notified the fiscal support agreement for pro-rata disbursement of capital subsidy to the Company.

This project was approved by the State-Level Single Window Clearance Committee (SLSWCC) and the state

cabinet in last fiscal year with a total project cost of ~₹618 crore for both, phase-1 and phase-2.

Project Financials and Status:

● Total project cost: ~₹618 crore

● Capital expenditure incurred: ~₹65 crore and eligible government capital subsidy: ~₹32 crore

“We extend our sincere gratitude to the Government of Odisha for their forward-thinking support in helping

bring this first-of-its-kind SiC semiconductor facility to life. Their backing empowers us to introduce advanced

technologies and modern manufacturing capabilities to the state. This development lays a strong foundation

for innovation, employment generation, and energy-efficient solutions in electric vehicles, renewables, power

electronics, and industrial automation across India,” said Dr. Harshad Mehta, Chairman & Director,

RIR Power Electronics Limited.

The progress made above represents a significant step in our efforts to become a leading player from India

in the high power semiconductor manufacturing and contribute meaningfully to the Make in India initiative.

The facility will manufacture high-power SiC MOSFETs, IGBTs and diodes ranging from 3.3 kV to 20 kV,

catering to key industries such as:

● Electric Vehicles (EVs)

● Renewable Energy and Power Grid Systems

● Power Electronics

● Industrial Automation

SiC semiconductors, known for their high performance and energy efficiency, are expected to transform

power-based technologies, boost local manufacturing capacity, and drive sustainable industrial growth across

the country.

About RIR Power Electronics Limited:

RIR Power Electronics Limited is a global pioneer in high-power semiconductor solutions, driving innovation

and energy efficiency. Its portfolio of high-performance semiconductor devices, assemblies, and energy

management systems enables customers to address the evolving demands of modern energy systems. The

company's innovative products and solutions empower energy performance at the highest level in both

----------------Page (1) Break----------------

BSE: 517035 | SECTOR: Power Electronics, Semiconductor

PRESS RELEASE

existing and emerging applications. Trusted worldwide for reliability and performance, RIR stands at the

forefront of sustainable energy innovation—powering progress, one breakthrough at a time. For more

information, visit the RIR website at www.rirpowersemi.com. RIR Power Electronics is listed on the

Bombay Stock Exchange (BSE) and as of 6th August 2025, the market capitalization is ~₹1,650 crore

Contact details:

Investor & Media

Abhishek Savant

Veritas Reputation PR Pvt Ltd

+91 8108848822

abhishek@veritasreputation.com

Ankit Chavan

Veritas Reputation PR Pvt Ltd

+91 9588683577

ankit.chavan@veritasreputation.com

Ketan Netawate

Veritas Reputation PR Pvt Ltd

+91 88570 92518

ketan.netawate@veritasreputation.com

----------------Page (2) Break----------------