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Shares of this EV firm in focus as firm inks pact to promote US arm Scorpius Trackers – Particulars
The deal shall be accomplished in two tranches, with full closure anticipated by March 2026, topic to due diligence, customary approvals, and shutting situations.
Shares of Gensol Engineering Ltd, a number one participant within the renewable vitality sector specialising in solar energy engineering, procurement, and building (EPC) providers, are in focus at the moment as the corporate stated it has inked a pact for the sale of its US subsidiary Scorpius Trackers Inc for Rs 350 crore to a serious renewable vitality options supplier within the US.
The counter opened marginally decrease at Rs 572 on the BSE towards the earlier shut of Rs 572.95 however gained to the touch the excessive of Rs 579.80. Nonetheless, it later fell to Rs 566.70.
Gensol Engineering inks pact
The deal contains the switch of unique and world mental property (IP) rights (besides India) for Scorpius Trackers’ superior photo voltaic monitoring expertise, the corporate stated in an announcement.
In line with the assertion, Gensol Engineering — a number one participant in India’s renewable vitality sector — has signed a non-binding time period sheet for a Rs 350 crore strategic transaction involving the sale of its US subsidiary, Scorpius Trackers Inc, to a serious renewable vitality options supplier within the US.
This transaction underscores Gensol’s technique to monetise high-value belongings, unlock capital from its subsidiaries, and reinvest in its core progress areas, strengthening the corporate’s monetary place, it stated.
The deal shall be accomplished in two tranches, with full closure anticipated by March 2026, topic to due diligence, customary approvals, and shutting situations, it stated.
Proceeds from this transaction shall be strategically redeployed to increase Scorpius Trackers’ operations within the nation, gas photo voltaic EPC enterprise progress, and assist Gensol’s broader clear vitality initiatives.
This reinvestment aligns with the corporate’s long-term imaginative and prescient to boost money circulation and strengthen the stability sheet, making certain sustained worth creation for shareholders.
With PTI inputs
