H.G. Infra Engineering Limited communicated with the Bombay Stock Exchange and the National Stock Exchange, notifying them about the formation of three additional subsidiaries, in adherence to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The newly established subsidiaries include H.G. Jodhpur Solar Energy Private Limited, H.G. Solar Project Developer Private Limited, and H.G. Green Hydrogen Power Private Limited. These subsidiaries are wholly owned by H.G. Solar Projects Private Limited, which in turn is a wholly owned subsidiary of H.G. Infra Engineering Limited.
Each of these newly established entities has been incorporated with an authorized, subscribed, and paid-up share capital of Rs. 15,00,000, divided into 150,000 equity shares valued at Rs. 10 each. Currently, these companies are in their initial phase and have not commenced business operations, hence no turnover has been reported for any of them. The creation of these subsidiaries can be considered as related party transactions, involving investments in step-down subsidiaries. Directors Harshvardhan Singh and Vaibhav Choudhary, who are part of the promoter and promoter group of H.G. Infra Engineering, also serve as directors in these new entities.
The subsidiaries are primarily focused on the solar power industry and green hydrogen energy, which aligns with the parent company’s interests in renewable energy sectors.
