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Acquisition / mergerFiled on BSE ·

Solarworld Energy Solutions Ltd approves joint venture with Rays Power for solar PV cell plant

Solarworld Energy Solutions Ltd · Construction

What the filing says

  • Company to invest up to ₹100 crore equity and provide up to ₹320 crore loan in Rays Green JV for 2.4 GW solar PV cell manufacturing facility in Madhya Pradesh.
  • JV formed with Rays Power Infra Pvt Ltd holding remaining 50%, with joint governance via SSA and JVA agreements executed on September 7, 2026.
  • Variation approved in IPO proceeds usage: shifting investment from subsidiary KSPL's 1.2 GW Pandhurana project to Rays Green's 2.4 GW project; IPO raised ₹440 crore fresh issue and ₹110 crore pre-IPO placement.

Original filing

Announcement under Regulation 30 (LODR)-Acquisition

Read the filing on BSE (PDF) →

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Summary written by Arthneeti from the company's filing with the stock exchange; check the original filing for full details. Arthneeti is a research and analytics platform, not a SEBI-registered investment adviser, and nothing here is a recommendation to buy or sell.