Gallantt Ispat to Incorporate Wholly Owned Subsidiary for 62.5-80 MW Solar Power Plant
Gallantt Ispat's board approved forming Suryalaxmi Technologies Private Limited, a WOS, to develop a 62.5-80 MW solar power plant for selling power to the State Government or Energy Exchange.
The decision to incorporate a WOS and establish a 62.5-80 MW solar power plant represents a strategic diversification into a new business segment (power infrastructure and distribution) with substantial capacity, indicating a high potential impact on the company's future operations and financial performance.
The company is expanding into the renewable energy sector with a significant solar power plant project, which can diversify its revenue streams and contribute to future growth.
Gallantt Ispat Limited's Board of Directors, at their meeting held on October 9, 2025, approved the incorporation of a Wholly Owned Subsidiary (WOS) named Suryalaxmi Technologies Private Limited. The initial investment proposed is ₹1,00,000 (Rupees One Lakh Only) by subscribing to shares for the formation of the WOS. The WOS will be established to set up a Solar Power Plant with an annual capacity of 62.5 to 80 MW, located in Tehsil Meja, Villages Kosada Kalan and Dewri, District - Prayagraj, or adjacent areas. This plant aims to sell and transmit power generation to the State Government or Energy Exchange. The company plans to fund and inject further capital into the WOS by subscribing to fresh shares. This initiative is in accordance with a tender document dated September 12, 2025, issued by Uttar Pradesh Power Corporation Limited (UPPCL) for solar power plant bids. Suryalaxmi Technologies Private Limited will have an Authorised Capital and Subscribed Capital of ₹1,00,000 each, and Gallantt Ispat Limited will hold 100% shareholding, subscribing at face value of ₹10 per share. This transaction is considered a Related Party Transaction but is done at "arm's length".
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Gallantt Ispat Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Gallantt Ispat Limited. Read the original for the full detail.