Rudra Gas Enterprise Limited has announced the approval for the incorporation of a new subsidiary, Rudra Global Green Energy Private Limited, during a Board meeting held on December 24, 2024. The company plans to make an initial investment of Rs. 51,000 by subscribing to 51% of the equity shares of the proposed subsidiary, which will focus on the renewable energy sector.
The new entity will be involved in the transmission, distribution, and sale of renewable energy sources, including solar, wind, and geothermal energy. This strategic move aims to expand the company’s business into the green energy space, leveraging shared resources and expertise for enhanced performance.
The incorporation is not expected to fall under related party transactions, and no governmental approvals are required. Rudra Gas will subscribe to 5100 equity shares of Rs. 10 each, marking the first step in the company’s green energy venture.
