亚博体育官网首页

Insolation Energy to Raise Rs.4.02 Billion via Preferential Share Allotment
ECONOMY & POLICY

Insolation Energy to Raise Rs.4.02 Billion via Preferential Share Allotment

Jaipur-based solar module manufacturer Insolation Energy (INA) is set to raise Rs.4.02 billion ($47.8 million) through a preferential allotment of 1.22 million equity shares to 117 non-promoter entities. Priced at Rs.3,287 ($39.12) per share, the move will diversify the company's investor base and bolster its financial standing.

Major allottees include Brightview Management Consultancy, NAV Capital Emerging Star Fund, and Bengal Finance & Investment. The new shares will represent 5.65% of the company鈥檚 post-allotment equity base.

Shareholder approval for the allotment will be sought at an Extraordinary General Meeting on November 13, 2024.

The capital infusion will support Insolation Energy鈥檚 expansion efforts, including a 3 GW solar module facility and a 12,000 MTA aluminum frame plant in Jaipur. The company is also advancing rooftop solar projects in Rajasthan and continues to provide modules for government initiatives like the Jal Jeevan Mission and PM-Kusum.

Jaipur-based solar module manufacturer Insolation Energy (INA) is set to raise Rs.4.02 billion ($47.8 million) through a preferential allotment of 1.22 million equity shares to 117 non-promoter entities. Priced at Rs.3,287 ($39.12) per share, the move will diversify the company's investor base and bolster its financial standing. Major allottees include Brightview Management Consultancy, NAV Capital Emerging Star Fund, and Bengal Finance & Investment. The new shares will represent 5.65% of the company鈥檚 post-allotment equity base. Shareholder approval for the allotment will be sought at an Extraordinary General Meeting on November 13, 2024. The capital infusion will support Insolation Energy鈥檚 expansion efforts, including a 3 GW solar module facility and a 12,000 MTA aluminum frame plant in Jaipur. The company is also advancing rooftop solar projects in Rajasthan and continues to provide modules for government initiatives like the Jal Jeevan Mission and PM-Kusum.

Next Story
Infrastructure Transport

New Expressway to Cut Pune-Bengaluru Travel Time by Half

The upcoming Pune-Bengaluru Expressway is expected to significantly improve connectivity and economic opportunities across Maharashtra and Karnataka. This 700-kilometre greenfield, access-controlled highway will cut the travel time between Pune and Bengaluru from 15 hours to just 7 hours, facilitating easier movement for both commuters and businesses. Starting from Bommanal in Karnataka鈥檚 Athani Taluk, the expressway will traverse important districts such as Belagavi, Bagalkot, and Jamakhandi. It will then enter Maharashtra at Kanjle, connect with the proposed Pune Ring Road, and pass throug..

Next Story
Infrastructure Transport

Nagpur鈥檚 Koradi Naka to Get Y-Shaped Flyover for Safer, Smoother Traffic

To alleviate traffic congestion and enhance safety at Koradi Naka in Nagpur, a Y-shaped flyover is currently being constructed on National Highway 47. Demolition work has already commenced, with the main construction scheduled to start on June 20, 2025.The project, costing Rs 430.37 billion, involves building a 1,090-meter-long flyover that will connect Farsa, the Mahadula Railway Overbridge (ROB), and Bokhara Road, and will also feature an underpass. The existing structure will be repurposed into a service road to facilitate local traffic.Koradi Naka has been identified as a significant "blac..

Next Story
Infrastructure Transport

Avinashi Flyover: Huge Iron Span to be Placed Over Railway Overbridge

A senior official from the Special Project Wing explained that a concrete deck of such length was not practical across active railway lines. Therefore, the department had decided to opt for a specially fabricated iron span.With the span now ready, its installation is awaiting railway clearance. The Salem Division of Southern Railway has already given its approval, while the final clearance is still pending from the Southern Railway headquarters in Chennai. For the installation process, railway operations under the ROB will need to be suspended for at least five days.The official also mentioned..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement