Madhav Infra Projects has informed the stock exchanges that it has received multiple Letters of Award (LOA) from M.P. Urja Vikas Nigam Limited (MPUVNL), a Government of Madhya Pradesh enterprise, for the implementation of grid-connected solar power projects, as per a regulatory filing dated December 29, 2025 .
According to the disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the awarded projects are part of the Surya Mitra Krishi Feeders Scheme with feeder solarisation under the PM KUSUM-C Scheme. The projects involve the implementation of Solar PV based Power Plants (SPP) for the sale of power to Madhya Pradesh Power Management Company Limited (MPPMCL).
The total estimated consideration of the awarded contracts is approximately Rs 342 crore, as per the annexure attached to the exchange filing. Madhav Infra Projects clarified that the contracts have been awarded by a domestic entity and are classified as domestic contracts. The execution timeline for the projects is 18 months from the date of signing of the Power Purchase Agreement (PPA).
The company further stated that neither the promoters nor the promoter group have any interest in MPUVNL, and the contracts do not fall under related-party transactions. All disclosures have been made in compliance with applicable SEBI circulars issued in July 2023 and November 2024.
The filing was signed by Khushbu Prajapati, Company Secretary and Compliance Officer, and submitted to BSE Limited, where Madhav Infra Projects is listed under Scrip Code 539894. The company has also made the disclosure available on its official website.
The awarded projects form part of government-led renewable energy initiatives and are aligned with feeder solarisation objectives under national schemes.
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