ISGEC Heavy Engineering has shared an update on its planned acquisition of a 26% equity stake in FPEL HR1 Energy Private Limited, a move originally expected to be wrapped up within 60 days from the signing of key agreements in early October 2025. The company had previously executed the Solar Power Purchase Agreement along with the Share Subscription and Shareholders’ Agreement on October 6, laying the groundwork for its entry into the solar energy space through this strategic investment.
The timeline, however, has now shifted. According to the latest disclosure, certain procedural formalities at the end of FPEL HR1 Energy Private Limited are still underway. These pending steps have held back the share allotment process, resulting in a delay beyond the initially communicated window.
ISGEC Heavy Engineering has clarified that the acquisition remains on track despite the slowdown and is now expected to be completed within an extended period of 30 days. Once the procedural requirements at FPEL HR1 are finalized, the share allotment will move forward, allowing ISGEC to secure its planned 26% stake.
