Date: September 10, 2026
Board Meeting Outcomes
- The Operational Committee of the Board of Directors approved the incorporation of a wholly-owned subsidiary company in the United Arab Emirates
- Meeting held on September 10, 2026, commencing at 07:15 PM IST and concluding at 07:30 PM IST
- Approval granted pursuant to Regulation 30 read with Para A of Part A of Schedule III of SEBI LODR Regulations and SEBI Master Circular Ref. No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Subsidiary Details
Company Structure:
- Wholly-owned subsidiary of ACME Solar Holdings Limited
- Country of Incorporation: United Arab Emirates
- Relationship: Related party of the Company
Business Operations:
- Industry: Renewable energy systems, components and storage products supply chain management
- Primary Functions: Procurement, supply chain management, project support, and other ancillary functions
- Specific Activity: Hedging of raw materials for renewables including lithium carbonate and polysilicon available in international markets
Financial Details:
- Nature of Consideration: Cash
- Initial Capital: AED 10,000 (or INR equivalent)
- Capital Infusion: To be infused in one or more tranches in accordance with applicable local laws and requirements
- Shareholding: 100% of the entity's shareholding to be held by ACME Solar Holdings Limited
Regulatory Approvals:
- No governmental or regulatory approvals required for the incorporation (Not Applicable)