Subsidiary7 May 2026, 01:58 pm
Oswal Pumps' Subsidiary Forms Oswal Doon Baran Bundi Solar
AI Summary
Oswal Pumps Ltd announced that its wholly-owned subsidiary, Oswal Solar Energy Private Limited, has incorporated a new subsidiary named "Oswal Doon Baran Bundi Solar Projects Limited" on May 06, 2026. This new entity will be a step-down subsidiary of Oswal Pumps. Oswal Solar and Doon Infrapower Projects Private Limited will hold 60% and 40% respectively of the paid-up equity share capital with an object to design, supply, erection, testing and commissioning including comprehensive operation and maintenance (O&M) for 25 years from the date of commissioning of Rooftop Solar (RTS) Photovoltaic Power Projects on State Government buildings/State Government undertaking buildings in Rajasthan under Hybrid Annuity Mode (HAM).
Key Highlights
- Oswal Solar Energy Pvt Ltd incorporates Oswal Doon Baran Bundi Solar Projects Limited.
- Oswal Solar holds 60% stake in the new subsidiary with ₹60,000 investment.
- The subsidiary will focus on rooftop solar projects in Rajasthan under HAM.
- Authorised Share Capital of Oswal Doon Baran Bundi Solar Projects Limited is ₹10,00,000.
- The new entity is yet to commence business operations.