Action Construction Equipment Invests Rs. 73 Lakhs in Hexa Energy HR1 Private Limited

Action Construction Equipment Limited (ACE) has approved an investment of Rs. 73,49,886/- in Hexa Energy HR1 Private Limited, a company engaged in the development and operation of solar power projects. ACE will subscribe to 18,702 equity shares of face value Rs. 10/- each at an issue price of Rs. 393/- per share. This investment is being made pursuant to and in accordance with the Share Subscription and Shareholders Agreement (SSSHA) and the Power Purchase Agreement (PPA) and as a pre-condition for participation in the solar power project developed by the Investee Company. ACE is required to hold a minimum of 26% equity shareholding in the Investee Company at all times.