Deals31 Aug 2026, 11:00 pm
Swelect Energy Transfers 26% Stake in ESG Solar to Garg Acrylics
AI Summary
Swelect Energy Systems Ltd has transferred 26% equity shares (2600 shares) of its wholly-owned subsidiary, ESG Solar Energy Private Limited, to Garg Acrylics Limited for ₹31,00,000. ESG Solar is yet to commence commercial operations and has NIL turnover and income, with a negative net worth of ₹7.83 lakhs as of FY2025-2026. Post-transfer, ESG Solar will become a subsidiary of Swelect Energy. The transaction is not considered a related party transaction and does not fall under a slump sale.
Key Highlights
- Swelect Energy transfers 26% stake in ESG Solar Energy to Garg Acrylics.
- Transaction value amounts to ₹31,00,000.
- ESG Solar is pre-commercial with NIL revenue and negative net worth.
- Garg Acrylics is a new captive consumer, not a group company.
- Post-transfer, ESG Solar remains a subsidiary of Swelect Energy.
Price Impact
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