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PVV Infra Ltd plans to raise up to INR 49.33 crore through a rights issue of partly paid-up equity shares with a face value of INR 5 each. The board approved the plan this week, with record dates and other details to be announced later. The move follows the company's recent acquisition of two solar orders worth INR 799 crore, highlighting its focus on renewable energy. The funds raised will help PVV Infra manage project execution and support its expansion in rooftop and ground-mounted solar projects across India.
PVV Infra Ltd has approved plans to raise up to INR 49.33?crore through a rights issue of partly paid-up equity shares, a decision taken by its board earlier this week. The shares will have a face value of INR 5 each. The company will announce the record date for eligible shareholders shortly. Key terms of the issue, including price, entitlement ratio, payment schedule, and timeline, will be finalised in line with SEBI regulations. The rights issue will be completed only after receiving all necessary regulatory and statutory approvals. Advertisement
The company's decision comes as it strengthens its presence in the renewable energy sector. PVV Infra, which specialises in rooftop and ground-mounted solar projects, recently secured two major solar orders together worth INR 799?crore. These orders underscore the growing demand for solar infrastructure and highlight the company's increasing focus on renewable energy solutions. The funds raised through the rights issue will help PVV Infra manage project execution efficiently and support its expansion plans. The company has a history of delivering solar projects across multiple states, which reinforces investor confidence in its operational capabilities.
The move also reflects a broader trend among Indian renewable energy companies seeking capital to fund large-scale projects, particularly in solar energy. By tapping into its existing shareholder base, PVV Infra aims to strengthen its balance sheet while meeting the growing market demand for sustainable energy infrastructure. Analysts suggest that successful execution of this rights issue will enhance the company's ability to scale operations and take on more significant projects in the future.
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