HG Infra Engineering Limited has announced a significant development in its solar energy portfolio. The company's wholly-owned subsidiary, H.G. Green Energy Private Limited, has transferred a 26% stake in three of its solar project subsidiaries to Stockwell Solar Services Private Limited.

Transaction Details

The stake transfer involves three entities:

1. H.G. Bikaner Solar Project Private Limited
2. H.G. Muknasar Solar Project Private Limited
3. H.G. Paleena Solar Project Private Limited

Following this transaction, these entities will no longer be wholly-owned subsidiaries of HG Infra Engineering but will continue to operate as subsidiaries of the company.

Financial Aspects

• Each transaction involved the sale of 2,600 equity shares with a face value of Rs. 10.00 each.
• The shares were sold at par value, resulting in a total consideration of Rs. 26,000.00 per entity.
• The company confirmed that the consideration was received in cash.
• All three solar project companies were incorporated during the fiscal year 2024-25 and have not generated any revenue to date.

About the Buyer

Stockwell Solar Services Private Limited, the acquiring company:

• Founded by IITians in 2017
• Specializes in solar OPEX/RESCO and CAPEX models
• Provides comprehensive services from site evaluation and design to financing, execution, and maintenance

Additional Information

• HG Infra Engineering clarified that Stockwell Solar Services does not belong to the promoter or group companies.
• These transactions do not fall under related party transactions.
• The expected completion date for all three stake transfers is September 3, 2025.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The stake transfer is based on a Letter of Award dated March 18, 2024, which was previously intimated to the stock exchanges.

This strategic move by HG Infra Engineering appears to be part of its ongoing efforts in the renewable energy sector, potentially leveraging partnerships to enhance its solar project capabilities.

HG Infra Engineering Limited (HGINFRA) has announced a significant development for its wholly-owned subsidiary, H.G. Narol Sarkhej Highway Private Limited. The subsidiary has received an appointed date for a major highway upgradation project in Gujarat, marking a new milestone for the company's infrastructure portfolio.

Project Details

The project, valued at ₹781.11 crore, involves the upgradation of an existing 6-lane road, including an elevated corridor, on National Highway 47 (NH-47). The stretch covers 10.63 kilometers from Narol Junction to Sarkhej Junction in the state of Gujarat. This development is set to be executed under the Hybrid Annuity Mode (HAM), a public-private partnership model that has gained traction in India's infrastructure sector.

Key Highlights

Official Communication

According to the company's official communication to the stock exchanges, H.G. Narol Sarkhej Highway Private Limited received the letter declaring the appointed date from the National Highway Division, R&B Department, Ahmedabad on August 21, 2025. This follows the company's earlier announcement made on August 20, 2024, regarding the project award.

Significance of the Project

This project represents a significant addition to HG Infra Engineering's order book. The upgradation of the Narol-Sarkhej stretch is expected to improve connectivity and ease traffic congestion in this rapidly developing area of Gujarat. The inclusion of an elevated corridor suggests that the project aims to address complex traffic patterns and urbanization challenges in the region.

Company's Growth Trajectory

The securing of this project underscores HG Infra Engineering's continued focus on expanding its presence in the infrastructure sector, particularly in highway development. It also highlights the company's capability to undertake large-scale projects that contribute to India's ongoing infrastructure development initiatives.

As the project moves forward, investors and industry observers will likely keep a close watch on HG Infra Engineering's execution capabilities and the potential impact on the company's financial performance in the coming years.

Note: The information in this article is based on the company's regulatory filing and does not include any forward-looking statements or predictions about the project's impact on the company's future performance.