H.G. Infra Engineering Limited has announced a significant investment of Rs 48.52 crore in its wholly owned subsidiary, H.G. Banaskantha Bess Private Limited. This strategic move involves the acquisition of equity shares through a rights issue, as detailed in the company’s regulatory filing.
H.G. Banaskantha Bess Private Limited, incorporated on December 3, 2024, is engaged in the battery energy storage system industry. The subsidiary, which has its registered office in Rajasthan, India, currently reports no turnover as of March 31, 2025. The authorised capital of the subsidiary stands at Rs 79.02 lakh, with a subscribed and paid-up share capital of Rs 15 lakh.
The acquisition, completed on March 23, 2026, involves the purchase of 6,40,200 equity shares at an issue price of Rs 758 per share, which includes a face value of Rs 10 per share. This transaction falls within the ambit of related party transactions, as H.G. Banaskantha Bess Private Limited is a wholly owned subsidiary of H.G. Infra Engineering Limited. However, the promoter group or other group companies hold no additional interest beyond the shares held by the company.
H.G. Infra Engineering Limited’s investment aims to expand its business operations, aligning with its strategic objectives. The acquisition was executed through cash consideration, with no governmental or regulatory approvals required for completion.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).