Shyam Metalics to acquire 51% stake in Alom Solar
Shyam Metalics and Energy Ltd announced its Board of Directors has approved the proposal to acquire a 51% controlling equity stake in Alom Solar Private Limited. Upon completion of definitive agreements and necessary approvals, Alom Solar will become a subsidiary of Shyam Metalics. The company also approved the Unaudited Financial Results for the Second Quarter and Half Year ended September 30, 2026, and gave in-principle approval for the induction of Mr. Debashis Prasad Pattanaik as a nominee director representing LIC. Additionally, a Capital Expenditure budget of approximately ₹360 Crores was approved for the Phutamura Coal Block development, with Shyam Metalics contributing 51% (₹183.60 Crores).
Key Highlights
- Board approved acquisition of 51% stake in Alom Solar Private Limited.
- Alom Solar Private Limited will become a subsidiary upon acquisition.
- Approved Q2 and H1 FY27 Unaudited Financial Results.
- In-principle approval for LIC nominee director appointment.
- Approved ₹360 Cr Capex budget for Phutamura Coal Block.
Price Impact
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