Servotech Renewable Energy System share worth can be in concentrate on Monday after the corporate introduced the acquisition of 27% stake in PV Module producer Rhine Photo voltaic Ltd for ₹12.15 crore, to strengthen its backward integration capabilities.
Photo voltaic options and EV charger producer Servotech Renewable Energy System mentioned that it has formally entered right into a definitive settlement to accumulate a 27% stake (post-money valuation) in New Delhi-based Rhine Photo voltaic.
Servotech will purchase 9,50,106 fairness shares of Rhine Photo voltaic, constituting a 27% stake within the firm, at ₹127.88 per share, aggregating to ₹12,14,99,555.28.
Rhine Photo voltaic offers in Photo voltaic Panels, Photo voltaic Lamps, Photo voltaic Lights, Photo voltaic Cooker, photo voltaic residence mild, photo voltaic road mild, photo voltaic geyser, photo voltaic water irrigation system all through India. The corporate reported a turnover of ₹82.41 crore in FY25, and ₹60.01 crore in FY24.
The indicative time interval for completion of the acquisition is 90 days. This important funding propels Servotech straight into the guts of the PV module manufacturing business, Servotech Renewable Energy System mentioned.
At the moment, Rhine Photo voltaic boasts the manufacturing capability of 100 MW, and the plan is to considerably escalate this capability, aiming for a formidable 600 MW by subsequent yr, it added.
“This acquisition is a significant leap ahead for us as we transfer towards changing into a completely built-in photo voltaic options supplier. We’ve now formally stepped into PV module manufacturing, and that is solely the start. A key focus can be on producing superior N-type TOPCon 12 busbar panels, which aren’t solely extra environment friendly but in addition in excessive demand in each home and world markets as a consequence of their superior efficiency and sturdiness,” mentioned Raman Bhatia, Managing Director of Servotech Renewable Energy System.
Servotech Renewable Energy System Share Value Efficiency
Servotech Renewable share worth has gained 9% in a single month, however the photo voltaic inventory has fallen 18% previously six months. The small-cap inventory is down 17% on a year-to-date (YTD) foundation, and has risen 62% in a single yr interval.
On Friday, Servotech Renewable share worth ended 3.23% greater at ₹138.79 apiece on the NSE.
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