Shares of Salzer Electronics Ltd jumped over 4% today to trade at ₹947.15 after the company announced the formation of a new Special Purpose Vehicle (SPV) named Effilume Private Limited in partnership with Schnell Energy Equipment Private Limited.
The SPV has been incorporated to execute a ₹192 crore energy efficiency project awarded by the Bruhat Bengaluru Mahanagara Palike (BBMP), aimed at upgrading the city’s smart infrastructure. Salzer will hold a 49% stake in Effilume through its wholly-owned subsidiary, Salzer EV Infra Private Limited, while Schnell Energy will hold the remaining 51%.
The company had first disclosed the project win on May 22, 2025, and formally incorporated Effilume on May 31. The positive update boosted investor sentiment, pushing Salzer shares higher in early trade.
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