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Hans India
16 hours ago
- Business
- Hans India
Servotech Renewable in focus on Monday as Coeus Fund converts warrants
Shares of Servotech Renewable Power System are expected to remain in the spotlight on Monday following a major equity allotment and expansion of its EV charging infrastructure portfolio. The renewable energy firm has converted 10 lakh warrants into equity shares, issued to Coeus Global Opportunities Fund, further strengthening investor confidence. The company allotted the shares at ₹83.40 per share (₹1 face value + ₹82.40 premium), receiving ₹6.25 crore or 75% of the issue price as upfront payment. This allotment is part of a larger preferential issue of 89 lakh warrants announced in January 2024. With this move, Coeus Global Opportunities Fund doubled its stake in Servotech from 0.44% to 0.88%, now holding 20 lakh shares. Consequently, the company's paid-up capital increased from ₹22.48 crore to ₹22.58 crore. Green Energy and EV Infra Drive Growth Servotech's growth isn't limited to capital infusion. Its subsidiary, Incharz (Servotech EV Infra), recently signed an MoU with Noida Power Company Ltd (NPCL) — a joint venture between the RP-Sanjiv Goenka Group and Greater Noida Industrial Development Authority. The deal aims to boost EV charging infrastructure across Greater Noida, targeting corporate campuses, housing societies, commercial spaces, and hospitals. NPCL will assist by recommending strategic locations and liaising with power distribution companies to accelerate setup and reduce costs. Incharz has already installed EV chargers at two residential complexes as part of the initiative. Stock Performance Servotech Renewable has been on a steady upward trajectory: +21% in the past month +19% over the last three months +67% in one year Massive 2,300% gain over three years, making it a multibagger in the smallcap space Despite closing slightly lower at ₹147.50 on Friday (down 0.04%) on the NSE, the stock's fundamentals and long-term prospects remain strong due to its active role in India's green energy transition. Investor Note With increased institutional interest and a strong pipeline in EV infrastructure, Servotech Renewable Power System is likely to draw heightened attention in the coming trading sessions.
Mint
a day ago
- Business
- Mint
Renewable energy stock to be in focus on Monday; here's why
Servotech Renewable Power System share price will be in focus on Monday after the company announced the conversion of 10,00,000 warrants into an equal number of equity shares. The company said it has allotted 10 lakh equity shares of face value Re 1 each at an issue price of ₹ 83.40 per share — including a premium of Re 82.40 — to Coeus Global Opportunities Fund. The allotment was made after receiving a total of ₹ 6.25 crore, at ₹ 62.55 per warrant, which is 75% of the issue price. The allotment was approved by the Sub-Committee of the Board of Directors at its meeting held on Friday, June 27, 2025. This is part of a larger allotment of 89 lakh warrants issued on January 6, 2024, on a preferential basis to non-promoters under the public category. Following the latest conversion, Coeus Global Opportunities Fund has increased its stake in the company from 10 lakh shares, or 0.44% stake, to 20 lakh shares, now holding a 0.88% equity stake in Servotech Renewable Power System. As a result of this allotment, the company's issued, subscribed, and paid-up share capital has risen from ₹ 22.48 crore to ₹ 22.58 crore. Servotech Renewable Power System is involved in the business of renewable energy solutions, and the company has recently been in the spotlight due to its capital-raising initiatives and ongoing growth in the green energy segment. The renewable energy stock could react to this development when the Indian stock market opens on Monday. Servotech Renewable Power System share price has rallied over 21% in one month, and gained 19% in the past three months. Over the past one year, Servotech Renewable shares surged 67%, while the smallcap stock has delivered multibagger returns of 2,300% in three years. On Friday, Servotech Renewable Power System share price ended 0.04% lower at ₹ 147.50 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.
