Joint Venture14 Dec 2024, 01:21 am
H.G. Infra Engineering Ltd Transfers Partial Stake in 23 Wholly-Owned Subsidiaries to Stockwell Solar Projects Private Limited
AI Summary
H.G. Infra Engineering Ltd, in accordance with Regulations 30 and 51 of SEBI (LODR), has announced the transfer of a 26% stake from each of its 23 wholly-owned subsidiaries to Stockwell Solar Projects Private Limited. This transfer has resulted in these entities ceasing to be wholly-owned subsidiaries, but they continue to be subsidiaries of the company. The details of this transaction are provided in Annexure A.
Key Highlights
- H.G. Infra Engineering Ltd transfers partial stake in 23 wholly-owned subsidiaries to Stockwell Solar Projects Private Limited
- The transferred stake is 26% from each subsidiary
- These entities cease to be wholly-owned subsidiaries but continue to be subsidiaries
- The transaction details are provided in Annexure A
- This move aligns with Regulations 30 and 51 of SEBI (LODR)