Insolation Energy , a prominent player in the solar energy sector, has made significant announcements regarding its listing status, insider trading disclosures, and strategic expansion through new subsidiaries.

Proposed Migration to Main Boards

Insolation Energy Limited has issued a postal ballot notice seeking shareholder approval for two key proposals:

1. Migration of its equity shares from BSE SME platform to BSE main board
2. Simultaneous application for direct listing on NSE main board

The company's shares have been listed on the BSE SME platform since October 10, 2022. Insolation Energy has a paid-up equity share capital of Rs. 22.03 crore, comprising 22.03 crore equity shares of Re. 1 each.

E-voting for these proposals will be conducted from September 11 to October 10, with the cut-off date set as September 5. Both resolutions require special resolution approval with specific voting requirements under SEBI regulations.

The board believes that migration to main boards will provide enhanced recognition, increased liquidity, wider investor participation, and a stronger brand image for the company.

Insider Trading and Share Acquisition Disclosure

The company has submitted disclosures to BSE concerning insider trading regulations and substantial share acquisition from Vikas Jain HUF, an entity within the promoter group. These disclosures were made in compliance with the Securities and Exchange Board of India (SEBI) regulations for the prohibition of insider trading and substantial acquisition of shares and takeovers. Nitesh Sharma, the Company Secretary, handled the submission on behalf of Insolation Energy.

Incorporation of New Subsidiaries

Insolation Energy has also announced that its wholly-owned subsidiary, Insolation Green Energy Private Limited, has incorporated three new wholly-owned subsidiaries:

1. PED Green Infra One Private Limited
2. JRD Green Infra One Private Limited
3. MVS Green Infra One Private Limited

These new entities were incorporated as special purpose vehicles (SPVs) with the primary objective of setting up solar power plants.

Details of the New Subsidiaries

Each of the newly formed subsidiaries has been incorporated with an authorized share capital of Rs. 1,00,000, divided into 10,000 equity shares of Rs. 10 each. Insolation Green Energy Private Limited has subscribed to 100% of the equity shares in each SPV, maintaining full ownership within the group.

The new subsidiaries will focus on various aspects of solar power plant development, including:

• Erection, installation, establishment, and construction of renewable energy power plants
• Operation and maintenance of solar facilities
• Consultancy services for renewable energy projects
• Design, supply, erection, testing, and commissioning of rooftop solar photovoltaic power projects
• Comprehensive operation and maintenance (O&M) of rooftop solar installations

Strategic Implications

These developments signify Insolation Energy's commitment to expanding its footprint in the solar energy sector and enhancing its market presence. The proposed migration to main boards aims to improve the company's visibility and liquidity, while the creation of dedicated SPVs for solar power plant development positions the company to capitalize on the growing demand for renewable energy solutions in India.

Regulatory Compliance

The company has ensured compliance with SEBI regulations by making timely disclosures regarding the proposed migration, insider trading matters, share acquisition, and the incorporation of new subsidiaries. This transparency is crucial for maintaining investor trust and adhering to regulatory standards in the securities market.

Insolation Energy's proactive approach in expanding its solar energy portfolio and seeking to upgrade its listing status reflects the company's strategic vision and its role in India's renewable energy landscape. As the solar sector continues to grow, these moves could potentially strengthen the company's market position and contribute to the country's clean energy goals.

Insolation Energy Limited has taken a significant step towards expanding its solar energy portfolio. The company's wholly-owned subsidiary, Insolation Green Energy Private Limited, has incorporated three new special purpose vehicles (SPVs) to set up solar power plants.

New Subsidiaries

The three newly incorporated wholly-owned subsidiaries are:

1. PED Green Infra One Private Limited
2. JRD Green Infra One Private Limited
3. MVS Green Infra One Private Limited

These SPVs were incorporated on September 9, each with an authorized share capital of Rs. 1.00 lakh, divided into 10,000 equity shares of Rs. 10.00 each.

Business Focus

The new subsidiaries will focus on various aspects of solar power plant development, including:

• Erection, installation, and construction
• Operation and maintenance
• Consultancy services for renewable energy power plants
• Design, supply, and commissioning of rooftop solar photovoltaic projects

Financial Details

Insolation Green Energy Private Limited has invested Rs. 1.00 lakh in each of the new entities through cash consideration. This strategic move aligns with Insolation Energy's commitment to expanding its presence in the renewable energy sector.

Regulatory Compliance

The company has made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The incorporation of these subsidiaries is seen as a related party transaction, as they are promoted by Insolation Green Energy Private Limited, a wholly-owned subsidiary of Insolation Energy Limited.

Market Impact

This expansion into solar power plant development through dedicated SPVs demonstrates Insolation Energy's commitment to growth in the renewable energy sector. The move is likely to strengthen the company's position in the solar industry and potentially create new revenue streams in the future.

As the newly incorporated entities begin their operations, investors and industry observers will be keen to see how these strategic investments contribute to Insolation Energy's overall performance and market presence.