Solex Energy Ltd has incorporated a wholly-owned subsidiary, Solex BESS Private Limited, on June 22, 2026, to expand its presence in the renewable energy sector. The new entity will focus on manufacturing, assembling, and dealing in battery energy storage systems (BESS), strengthening the company's integrated clean energy solutions portfolio. The subsidiary was incorporated in Surat and is yet to commence business operations.

Solex Energy holds 100% shareholding in the new subsidiary, acquiring shares at a face value of ₹10 each. The authorised capital of Solex BESS Private Limited stands at ₹10,00,000, divided into 1,00,000 equity shares of ₹10 each. The incorporation was disclosed to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015.

Subsidiary Details

Business Objectives

The primary objective of the new subsidiary is to undertake the business of manufacturing, assembling, designing, developing, installing, commissioning, operating, maintaining, and dealing in Battery Energy Storage Systems (BESS). The proposed business is ancillary to Solex Energy's existing activities and is expected to enhance its offerings in the clean energy sector. No specific governmental or regulatory approvals were required for this incorporation.

Solex Energy Ltd's board has recommended a dividend of ₹0.55 per share for the financial year ended March 31, 2026, marking a return of capital to shareholders. The decision was taken during a board meeting held on June 18, 2026. The dividend is subject to approval by shareholders at the ensuing Annual General Meeting. If approved, the payout will be dispatched within 30 days of its declaration. The record date for determining shareholder eligibility will be announced separately.

In a strategic move to enhance liquidity and access to capital, the board approved the proposal for listing the company's existing equity shares on the mainboard platform of BSE Limited. This listing is contingent upon receiving necessary approvals from BSE Limited and other relevant regulatory and statutory authorities.

The board meeting, which commenced at 11:00 a.m. and concluded at 11:50 a.m. on June 18, 2026, was convened to discuss these key agenda items. The disclosures were made pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Board Decisions

The following resolutions were passed during the meeting:

• Dividend Recommendation: ₹0.55 per equity share of face value ₹10 each for FY26.
• Listing Proposal: In-principle approval to list existing equity shares on BSE Limited.

Financial and Regulatory Details