Oswal Pumps subsidiary establishes new solar project company

Kinjal — Thu, 07 May 2026 08:23:35 +0000

Oswal Pumps Limited has announced the incorporation of a new subsidiary, Oswal Doon Baran Bundi Solar Projects Limited, through its wholly owned subsidiary Oswal Solar Energy Private Limited. This new entity was established on 6 May 2026 and will serve as a step-down subsidiary for Oswal Pumps.

Oswal Doon Baran Bundi Solar Projects Limited has been formed with an authorised share capital of ₹10,00,000, consisting of 1,00,000 equity shares valued at ₹10 each. The subscribed share capital stands at ₹1,00,000, comprising 10,000 equity shares at the same value. The entity is yet to commence business operations, and therefore, its turnover details are currently not applicable.

The new subsidiary will operate within the Engineering, Procurement, and Construction (EPC) sector, focusing on the development, operation, and maintenance of solar power projects and associated infrastructure. The formation of this company is a strategic move by Oswal Solar Energy to expand its footprint in the solar energy sector.

Oswal Solar Energy has partnered with Doon Infrapower Projects Private Limited to create this special purpose vehicle (SPV), with Oswal Solar holding a 60% stake and the SPV partner holding the remaining 40%. The objective of the SPV is to design, supply, erect, test, and commission rooftop solar photovoltaic power projects on state government buildings in Rajasthan. The projects will be executed under the Hybrid Annuity Mode (HAM) as per the Letter of Award issued by the Rajasthan Renewable Energy Corporation Limited on 30 March 2026.

The acquisition of shares in the new subsidiary involved a cash consideration, with Oswal Solar Energy subscribing to 6,000 equity shares at ₹10 each, amounting to a total of ₹60,000. The percentage of shareholding acquired by Oswal Solar Energy is 60%.

Oswal Doon Baran Bundi Solar Projects Limited was incorporated in India, and as it is a newly established entity, it does not have a history of turnover for the past three years.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

Oswal Solar Energy | Business Upturn

Oswal Pumps subsidiary establishes new solar project company