Solar stock to be in focus on Monday after THIS acquisition update. Details here
Servotech Renewable Power System share price will be in focus on Monday after the company announced the acquisition of 27% stake in PV Module manufacturer Rhine Solar Ltd for ₹ 12.15 crore, to strengthen its backward integration capabilities.
Solar solutions and EV charger manufacturer Servotech Renewable Power System said that it has officially entered into a definitive agreement to acquire a 27% stake (post-money valuation) in New Delhi-based Rhine Solar.
Servotech will acquire 9,50,106 equity shares of Rhine Solar, constituting a 27% stake in the company, at ₹ 127.88 per share, aggregating to ₹ 12,14,99,555.28.
Rhine Solar deals in Solar Panels, Solar Lamps, Solar Lights, Solar Cooker, solar home light, solar street light, solar geyser, solar water irrigation system throughout India. The company reported a turnover of ₹ 82.41 crore in FY25, and ₹ 60.01 crore in FY24.
The indicative time period for completion of the acquisition is 90 days. This crucial investment propels Servotech directly into the heart of the PV module manufacturing industry, Servotech Renewable Power System said.
Currently, Rhine Solar boasts the manufacturing capacity of 100 MW, and the plan is to significantly escalate this capacity, aiming for an impressive 600 MW by next year, it added.
'This acquisition is a major leap forward for us as we move toward becoming a fully integrated solar solutions provider. We've now officially stepped into PV module manufacturing, and this is only the beginning. A key focus will be on producing advanced N-type TOPCon 12 busbar panels, which are not only more efficient but also in high demand in both domestic and global markets due to their superior performance and durability,' said Raman Bhatia, Managing Director of Servotech Renewable Power System.
Servotech Renewable share price has gained 9% in one month, but the solar stock has fallen 18% in the past six months. The small-cap stock is down 17% on a year-to-date (YTD) basis, and has risen 62% in one year period.
On Friday, Servotech Renewable share price ended 3.23% higher at ₹ 138.79 apiece on the NSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
14 minutes ago
- Business Standard
Torrent Pharma to acquire JB Pharma from KKR at ₹25,689 cr valuation
In one of the largest pharma deals in the domestic market in recent years, Ahmedabad-based Torrent Pharmaceuticals will acquire a controlling stake in investment firm KKR-backed JB Chemicals and Pharmaceuticals (known as JB Pharma) at an equity valuation of ₹25,689 crore, which will be followed by the merger of the two entities. The deal will be executed in two phases — acquisition of the 46.39 per cent stake held by KKR in JB Pharma at ₹1,600 per share, amounting to ₹11,917 crore, followed by a mandatory open offer to acquire up to 26 per cent of JB Pharma shares from public shareholders at ₹1,639.18 per share. 'In addition to the above, Torrent has also expressed its intent to acquire up to 2.8 per cent of equity shares from certain employees of JB Pharma at the same price per share as KKR,' the company said in a statement on Sunday. The next step in the deal will be a merger between Torrent Pharma and JB Pharma through a scheme of arrangement, under which every shareholder holding 100 shares in JB Pharma will receive 51 shares of Torrent Pharma. The boards of directors of both companies have approved this arrangement. KKR had acquired 54 per cent of JB Pharma in July 2020 from the promoters and founders, the Mody family, for approximately ₹3,100 crore (or ₹745 per share). It sold a part of its stake in March this year through block deals for ₹1,459.8 crore. KKR has earned more than five times on its investment, with around 36 per cent gross IRR. For instance, Torrent Pharma has previously indicated plans to increase its medical representative (MR) strength by 23 per cent by the end of FY26, and the acquisition can aid in manpower augmentation. Torrent Pharma holds a 3.74 per cent share in the domestic market (according to Pharmarack, May 2025), while JB Pharma commands a 1.12 per cent share. Further, consolidation in key international markets is expected to offer greater scalability. Samir Mehta, executive chairman of Torrent Pharma, said they want to build on JB Pharma's heritage and platform for the future. 'Torrent's deep India presence and JB Pharma's fast-growing India business, combined with the CDMO and international footprint, offer immense potential to scale both revenue and profitability. This strategic alignment furthers our goal of strengthening our presence in the Indian pharma market and builds a larger diversified global presence. Moreover, the CDMO platform provides a new long-term avenue of growth for Torrent.' Torrent has previously taken the inorganic route to grow its business and enter newer segments — in 2013, it acquired Elder Pharma's India-branded business; followed by the dermaceutical business of Zyg Pharma in 2015 and the API plant of Glochem Industries in 2016. Among other major deals, it bought the India-branded business of Unichem in 2017. Its last major acquisition was of skin-care products from Curatio Healthcare in 2022. Torrent Pharma is a highly domestic-focused company, drawing around 55 per cent of its consolidated revenues from the domestic formulations business. India sales grew by 13 per cent in FY25 to ₹6,393 crore. While the company has been outperforming industry growth in the domestic market, it is also planning to increase MR strength by 23 per cent by FY26-end. Torrent has a strong presence in the cardiovascular, gastrointestinal and neurology segments. JB too has prominent cardiac and gastro brands like Cilacar, Metrogyl and Rantac. Torrent is also working on launching GLP-1 products as a day-one launch in FY26. Analysts expect a 15 per cent sales CAGR in domestic formulations for Torrent Pharma over FY25–27. Gaurav Trehan, co-head of Asia Pacific and head of Asia Pacific private equity at KKR, and CEO of KKR India, said: 'JB Pharma's transformation under our stewardship is a testament to KKR's ability to scale high-quality companies.' Nikhil Chopra, chief executive officer and whole-time director of JB Pharma, pointed out that over the past five years, the company has emerged as one of India's fastest-growing pharmaceutical players. 'We have built a strong foundation to deliver market-leading growth, as well as consistent improvement in profitability in the medium and long term. As we now enter a new chapter alongside Torrent Pharmaceuticals, we are confident that the combined strengths of our organisations will unlock greater opportunities to enhance healthcare access across our markets,' Chopra said. JB Pharma posted 12 per cent revenue growth in FY25 to ₹3,918 crore, while its EBITDA rose 16 per cent to ₹1,087 crore, and PAT increased 19 per cent to ₹660 crore. Notably, KKR Private equity has invested $2 billion in India in 2024 and recently invested $600 million in Manipal Group via its private credit arm.
Hindustan Times
15 minutes ago
- Hindustan Times
From July 1, reservation charts to be released 8 hours before train departure
New Delhi: The Indian Railways on Sunday said that it would prepare the reservation chart eight hours before the train departure time, starting from July 1. The railways also said that it will introduce a Modern Passenger Reservation System (PRS) by December this year. (Representational image) As of now, the chart that determines whether waitlisted tickets are confirmed is prepared and released just four hours prior to the train's departure time. The move is expected to give passengers more clarity and time to make alternative travel arrangements in case their train tickets do not get confirmed. '..Wherever passengers are coming from a nearby area to catch the train, this uncertainty can cause serious problems. To remove this uncertainty, the railway board has proposed preparing the reservation chart eight hours before the departure,' a statement from the railways said. 'The Railway Minister agreed with this proposal and directed the board to start implementing this in phases so that there is no disruption,' it added. 'The passengers will get the first update on waitlist status well in advance. It will benefit passengers travelling from remote locations or suburbs of major cities for catching long distance trains. It will also provide more time to make alternative arrangements in case the wait list is not confirmed,' the railways said, adding that it will reduce uncertainties for passengers with waitlist tickets. The railways also said that it will introduce a Modern Passenger Reservation System (PRS) by December this year. Railway minister Ashwani Vaishnaw reviewed the upgradation of the passenger reservation system, it said, adding that the project is being executed for the last few months by the Centre For Railway Information Systems (CRIS). 'The new upgraded PRS design to handle ten times the current load. It will significantly enhance the ticket booking capacity…it will allow over 1.5 lakh ticket bookings per minute. This will be an increase of roughly five times from 32,000 tickets per minute in the current PRS,' it said. 'The ticket enquiry capacity will jump ten times from 4 lakh to over 40 lakh per enquiry will be possible in a minute time. The new PRS also has a multilingual and user-friendly booking and enquiry interface,' the statement added. Passengers will be able to submit their choice of seat and see the fare calendar. It also has integrated facilities for Divyangjan, students, patients, it said. This comes after the railways announced that only authenticated users will be allowed to book Tatkal tickets on IRCTC website and mobile app beginning July 1 and that an OTP-based authentication will be done for Tatkal bookings from the end of July. 'The authentication will be done using Aadhaar or any other verifiable Government ID available in the user's DigiLocker account,' the statement concluded.
Time of India
an hour ago
- Time of India
Reliance Jio on path to become dominant Fixed Wireless Access player globally: Analysts
Overall, Reliance Jio dominated the India market with 50.72 per cent share in the broadband segment, comprising both wired and wireless segments. Reliance Jio is set to become the world's largest Fixed Wireless Access provider. It will surpass T-Mobile in subscriber base. Jio's 5G FWA subscribers reached 6.88 million in May. The company dominates the Indian market with over 50 percent broadband share. Reliance Jio and Bharti Airtel added most new customers in May. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: Indian telecom major Reliance Jio is on track to become the world's largest Fixed Wireless Access provider by subscriber base, eclipsing US-based telecom giant T-Mobile , an analyst report said on to recent data released by telecom regulator Trai, Reliance Jio total 5G FWA subscriber base (including unlicensed band radio) reached 6.88 million in May, while T-Mobile had 6.85 million subscribers in Jio reclassified around 1 million Fixed Wireless Access (FWA) unlicensed band radio (UBR) subscribers into FTTx category, following which its net FWA subscriber base stood at 5.9 million in May, with a monthly addition of 0.74 million Securities report by analysts Sanjesh Jain, Mohit Mishra and Aparajita Chakraborty based on Trai data said that industry FWA (excluding UBR) stood at 7.4 million with RJio's FWA subs stood at 5.9 million after UBR report said that net addition was 0.74 million subscribers in May."RJio's FWA (including UBR) stood at 6.88 mn. This, compared to T-Mobile (US player, and the largest FWA subs base globally) FWA subs base was at 6.85 mn in March 2025. We believe RJio is on a path to become the dominant player by subs for FWA globally by end-June 2025," the report Reliance Jio dominated the India market with 50.72 per cent share in the broadband segment, comprising both wired and wireless Jio total fixed wired broadband subscriber base was 13.51 million and wireless broadband subscriber base was 480.96 million in May, as per data published by the Telecom Regulatory Authority of India (Trai).Reliance Jio is followed by Bharti Airtel in India with 30.99 per cent share in the broadband Reliance Jio and Bharti Airtel at present dominate the Indian telecom services Indian telecom subscriber base grew marginally to 1,207 million in May with Reliance Jio and Bharti Airtel adding over 99 per cent new customers during the total net subscriber addition by the telecom service providers was 43,58,231, while Reliance Jio and Bharti Airtel jointly added 43,51,294 -- accounting for 99.84 of total net subscriber addition in May.
