ISGEC Heavy Engineering Ltd Acquires 26% Stake in FPEL HR1 Energy for Green Energy and Cost Optimization

ISGEC Heavy Engineering Ltd has entered into a Solar Power Purchase Agreement and Share Subscription and Shareholders Agreement on October 06, 2025, to acquire 26% equity shares of FPEL HR1 Energy Private Limited. The acquisition is for the purposes of meeting the Company’s green energy needs and optimizing energy cost. The proposed acquisition is not a related party transaction and the promoter/promoter group companies have no interest in the proposed acquisition. The cost of acquisition is Rs. 2,24,32,000/-. FPEL HR1 Energy Private Limited is a company for setting up 50 MWp DC / 75 MW AC solar power project on a captive basis at Ramanagar Village, Odhan, Mandi Kalanwali Tehsil, Sirsa Dist, Haryana. The company was incorporated on 19th August 2025.