CG Power & Industrial Solutions Limited has entered into an agreement to divest its controlling stake in its Indonesian subsidiary, marking a strategic exit from a non-operational venture. The company disclosed this development through a regulatory filing under SEBI Listing Regulations on March 5, 2026.

Transaction Details

The divestment involves the sale of CG Power's 51% stake in PT Crompton Prima Switchgear Indonesia (CPSI) to its existing joint venture partner PT Prima Layanan Nasional Enjiniring (PLNE). The transaction has been structured through CG International Holdings Singapore Pte Ltd. (CGS), which is a wholly owned foreign subsidiary of CG Power.

Subsidiary Background

CPSI was established as a joint venture between CGS and PLNE, with the companies holding 51% and 49% stakes respectively. The subsidiary is currently non-operational and contributed nil turnover, revenue, income, and net worth to CG Power during the last financial year. Prior to this share sale agreement, CPSI had already sold all its factory assets including land, plant and machinery, furniture, and equipment to PLNE in February 2026.

Financial and Strategic Impact

The company has indicated that there will be no adverse financial impact on its financial statements as a result of this transaction. The nominal consideration of IDR 1 reflects the non-operational status of the subsidiary and the prior asset disposal.

Key aspects of the transaction include:

• The buyer does not belong to the promoter or promoter group
• The transaction does not qualify as a related party transaction
• No scheme of arrangement is involved in the disposal

Regulatory Compliance

The divestment has been disclosed in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Upon completion of the transaction, CPSI will cease to be a subsidiary of CGS and consequently a step-down subsidiary of CG Power and Industrial Solutions Limited.

The transaction is subject to the fulfillment of terms and conditions by all parties as specified in the Conditional Shares Purchase Agreement. This strategic move allows CG Power to exit from a non-contributing asset while enabling its local partner to gain full control of the Indonesian entity.

CG Power & Industrial Solutions Limited has completed another allotment of 6,000 equity shares under its Employee Stock Option Plan 2021 to eligible employees. The latest allotment was executed on March 3, 2026, following the exercise of stock options granted under the ESOP 2021 scheme.

Latest Allotment Details

The recent share allotment was structured with uniform pricing for all eligible employees:

All allotted equity shares are fully paid up and will rank pari-passu with the existing equity shares of the company in all respects, ensuring equal rights and privileges for all shareholders.

Updated Share Capital Structure

The March 2026 allotment has further increased the company's paid-up equity share capital:

The increase of Rs. 12,000 in paid-up share capital reflects the addition of 6,000 new equity shares at the face value of Rs. 2.00 each.

Previous ESOP Activity

This follows an earlier allotment under the same ESOP 2021 scheme, where the company had previously allotted 6,000 equity shares across different exercise price categories:

Regulatory Compliance

CG Power and Industrial Solutions Limited has informed both the Bombay Stock Exchange and National Stock Exchange of India about this latest allotment under Regulation 30 of the listing requirements. The communication was sent through the Company Secretary and Compliance Officer, Sanjay Kumar Chowdhary.

The continued implementation of the Employee Stock Option Plan 2021 demonstrates the company's ongoing commitment to employee participation in its growth story, allowing eligible employees to acquire equity stakes at predetermined exercise prices.