HEC Infra Projects Ltd has decided to form a new subsidiary, Shivam Grid Solutions Private Limited, to expand its business operations into electrical, mechanical, and engineering support services. The board of directors approved the proposal during a meeting held on July 14, 2026. The new entity will focus on providing technical manpower supply services alongside its core engineering activities.

The proposed subsidiary will be incorporated in India as a private limited company. HEC Infra Projects Ltd will hold a controlling stake in the entity by subscribing to 51% of the equity shares. The subscription will be made through cash consideration towards the Memorandum and Articles of Association of the proposed company.

The disclosure regarding the formation of the subsidiary was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that necessary updates regarding the incorporation would be provided once the subsidiary is formally established.

The board meeting commenced at 4.00 pm IST and concluded at 5.00 pm IST. The approval marks a strategic expansion for the engineering consultants and contractors, allowing it to diversify its service offerings through the new entity.

Details of the Proposed Subsidiary

hec infra projects has secured a work order worth Rs 18.67 crores from Engineering Projects (India) Limited. The order involves the design, engineering, supply, erection, testing, and commissioning of an HT/LT package and associated works on an EPC mode. This project is specifically for the supply, installation, testing, and commissioning of a Flue Gas Desulphurization (FGD) system for the 1x500 MW Unit 6 at Ukai Thermal Power Station (TPS).

Project Details

The project is classified as a domestic order awarded by a domestic entity. The scope of work encompasses comprehensive EPC services for the electrical package associated with the FGD system. The execution period for the contract is set at 10 months.

Order Specifications

The company confirmed that none of the promoters or promoter group have any interest in the entity awarding the order. Consequently, the transaction does not fall within the purview of related party transactions. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.