Solar Solutions and Ev Charger Manufacturer Servotech Renewable Power System Said That it has officially entered into a definative agreement to Acquire a 27% stake (Post -Money Valuation) In New Deelhi-Absed Rhine Solar.
Servotch Will Acquire 9,50,106 Equity Shares of Rhine Solar, Constitting a 27% Stake in the company, at 127.88 per share, aggregating to 12,14,99,5555.28.
Rhine solar deals in solar panels, solar lamps, solar lights, solar cooker, solar home light, solar street light, solar geyser, solar water irrigation system Throughing india. The company reported a turnover of 82.41 Crore in FY25, and 60.01 Crore in FY24.
The indicative time period for completion of the acquisition is 90 days. This Crucial Investment Propels Servotech Directly Into the heart of the pv module manufacturing industry, servotech renewable power system said.
Currently, rhine solar boasts the manufacturing capacity of 100 mw, and the plan is to significantly Escalate this capacity, aiming for an impressive 600 mw by next year, eit added.
“This acquisition is a major leap forward for us as we move towed a full integrated solar solutions provider. BEGINNING. Performance and Durability, “said Raman Bhatia, Managing Director of Servotech Renewable Power System.
Servotech renewable power system share price performance
Servotech renewable share price has got 9% in one month, but the solar stock has fallen 18% in the past six months. The Small-Cap Stock is Down 17% on a year-to-date (ytd) Basis, and has risen 62% in one one year period.
On Friday, servotech renewable share price ended 3.23% higher at 138.79 apiece on the nse.
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