Gallantt Ispat to incorporate Wholly Owned Subsidiary for Solar Power Plant
Gallantt Ispat's board approved forming Suryalaxmi Technologies Private Limited, a WOS, to establish a 62.5-80 MW solar power plant in Uttar Pradesh and participate in UPPCL bidding.
The decision to incorporate a WOS for a solar power plant represents a significant strategic diversification and entry into the renewable energy sector, potentially opening a new growth vertical for the company.
The company is venturing into a new business segment (solar power) through a wholly-owned subsidiary, which indicates strategic expansion and potential for new revenue streams.
Gallantt Ispat Limited's Board of Directors, at their meeting held on Thursday, October 09, 2025, approved the incorporation of a Wholly Owned Subsidiary (WOS) named Suryalaxmi Technologies Private Limited. Key details of the approval are as follows: * The initial investment in the WOS will be ₹1,00,000 (Rupees One Lakh Only) by subscribing shares. * The WOS is being formed to set up a Solar Power Plant with an annual capacity of 62.5 to 80 MW. * The WOS will participate in the bidding process initiated by Uttar Pradesh Power Corporation Limited (UPPCL) through a tender document dated September 12, 2025. * The objective of the WOS is to sell and transmit the generated power to the State Government or to the Energy Exchange. * The proposed location for the project is Tehsil Meja, Villages Kosada Kalan and Dewri, District - Prayagraj, or an adjacent area. * Suryalaxmi Technologies Private Limited will have an Authorised Capital and Subscribed Capital of ₹1,00,000 each, with Gallantt Ispat Limited holding 100% of its shareholding. * The incorporation of the WOS is considered a Related Party Transaction but is being 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.